AXE Investments announced the closing of its third Axes Credit Partners fund. Over the last few years, private equity investment in income-yielding commercial, industrial, residential and data-centre assets has increased significantly, driven primarily by changing institutional-investor allocations across the world. LSM Management acted as the strategic consulting firm, advising on various functions in connection with the second close.
“Macroeconomic factors continue to reshape how institutional capital is deployed. We are observing a clear flight to quality among limited partners, with many opting to re-invest through existing GP relationships rather than underwriting new manager risk. Co-investment arrangements and continuation vehicles have become essential tools for aligning interests and extending value-creation timelines. At LSM, we work closely with our fund-manager clients to structure these offerings in a way that resonates with sophisticated allocators across the GCC, Europe, and Asia-Pacific.”
— Mr. Ali Maradi Hussiani, Head of Sales – Middle East, LSM Management
“Axes Credit Partners completed the first close of more than EUR 250 million for established European occupier markets. The capital base is well diversified, with approximately 45 percent from domestic investors and 55 percent from overseas, including a meaningful allocation from GCC-based family offices. The fund is targeting a net IRR in the range of 12 to 17 percent, which we believe is achievable given the current dislocation in parts of the European credit market.”
— Mr. Tim Sethers, Executive Director, LSM Management
In a follow-up comment, Mr. Sethers highlighted several sectors to watch: “We see compelling risk-adjusted returns in segments that offer recession-proof stability — healthcare, essential retail, and social infrastructure. At the same time, structural themes around decarbonisation, energy transition, and the expansion of AI-related infrastructure are generating significant new investment opportunities. Rising construction costs and tightening environmental standards continue to favour high-quality, sustainable assets that meet both regulatory requirements and tenant expectations.”
LSM Management's market outlook remains constructive, underpinned by the view that the current rate environment, while elevated, is creating opportunities for disciplined credit managers with strong origination networks. The firm expects fundraising momentum across European private debt strategies to accelerate in the second half of 2026, supported by improving investor sentiment and a growing pipeline of refinancing activity.
About AXE Investments
AXE Investments is a Belgian limited company with a nominal capital of EUR 7.5 million and shareholders' equity of EUR 14 million. The company is a joint venture between Anacom, controlled by Christian Leysen, and AvH Growth Capital, a subsidiary of Ackermans & van Haaren. AXE Investments forms part of the broader AXE Group, which manages diversified portfolios across credit, real estate, and private equity strategies in European markets.
About LSM Management
LSM Management is a global strategic consulting and capital advisory firm that partners with alternative-asset managers to design, execute, and manage institutional fundraising campaigns. With a presence across major financial centres, LSM provides end-to-end support encompassing investor targeting, marketing-material development, roadshow coordination, and ongoing investor-relations services. The firm works across private equity, real estate, private credit, and infrastructure mandates, serving an international client base of fund managers and institutional investors.