Catella on the verge of becoming majority shareholder of Aquila AM

"Higher value-added and opportunistic strategies will be an essential element of our pan-European strategy, and we did not want to have a missing piece of the puzzle in France, whose long-term prospects we value highly," said Christoffer Abramson, CEO of Catella, speaking to Business Immo. "France is one of the most attractive and important real estate markets in Europe, where we are already very present, primarily in the area of corporate finance. Having such a competent asset and real estate management company makes us a globally stronger and more attractive player in the French market."

The Stockholm-based investment management company has acquired shares from the local management team, who will retain a minority stake. The sellers are entitled to an additional purchase price of approximately €1 million if certain criteria are met. The acquisition is financed through Catella's own funds. Closing of the transaction is subject to regulatory approval and is expected to take place during the second half of 2023.

"This is an important step for us in developing our European synergies, both for pan-European strategies — which can now benefit from our stronger presence in France — and by adding outstanding partners to identify and manage our investment mandates alongside other capital partners."

Aquila Asset Management was founded in 2010, while Axipit Real Estate Partners, which offers solutions to both retail and professional investors and is regulated by the Autorité des Marchés Financiers (AMF), was founded in 2021. Together, they manage €1.4 billion in assets under management.

"Aquila has exceptional experience in core, core-plus and value-add mandates, proven over many years, but it also has the Axipit real estate funds, which are just beginning to develop and gain a foothold in the regulated funds space with retail capital — something that fits our growth strategy and that we did not have before," added Christoffer Abramson.

In his view, "the timing of this acquisition is well chosen," as Catella sees "fantastic opportunities in France" ahead. "There is a downward price adjustment for French properties, though less severe than in other European markets," he added.

As it did with its Polish subsidiary, acquired last year and rebranded as Catella Poland on June 1, the Swedish group intends to integrate its brand in France through this new acquisition, its CEO indicated: "The company will not change its name immediately, but within a year or two, the idea is that Catella becomes at least part of the name. We always build our pan-European platforms under a single brand, which I believe will become even more important in being recognized as a stronger pan-European player."

For Jean-Marc Sabiani and Gilles Barbieri, founders and managing partners of Aquila, "the partnership with Catella will give us additional strength in our strategy of transforming into a global real estate savings player. Aquila has a track record of success built on local expertise, and as we now join Catella's European network, we form a very strong team — internally across Europe as well as in the French market."