AXA Investment Managers – Real Assets (AXA IM – Real Assets) has appointed Steve McCarthy as the new Head of North America, and Aaron Kutner as US Director of Acquisitions, effective immediately.
Olivier Thoral, current Head of North America, will return to AXA IM – Real Assets’ headquarters in Paris where he will assume new responsibilities.
In his new role as Head of North America, McCarthy, who for the last three years has been AXA IM – Real Assets’ US Head of Asset Management & Transactions, is now responsible for defining, recommending and executing all aspects of the business’ North American investment and capital raising strategies. He is also in charge of the continued growth of the investment and asset management platform. With more than 30 years’ of real estate investment experience, Steve joined AXA IM – Real Assets in 2013 from his role as Co-founder and Principal of MXA Capital, a real estate investment advisory company focused on the acquisition of value-add office properties in the US on behalf of institutional investors. Steve previously held senior positions in the US at the ULI Greenprint Center for Building Performance, Buchanan Street Partners, WestWind Capital Partners LP and Jones Lang Wootton, and in the UK at Tishman Speyer Properties.
As US Director of Acquisitions, Kutner reports to McCarthy and is responsible for sourcing, underwriting and executing acquisitions in accordance with clients’ objectives, which include both direct and joint venture investments with local operating partners. Kutner joins AXA IM – Real Assets following six years at Clarion Partners (formerly ING Clarion) where, since 2014, he was Vice President of Acquisitions. Prior to Clarion, Aaron spent a year at CapitalSource Bank in its Structured Finance Group and in Credit Administration, having joined from Prudential Real Estate Investors where he was an investment analyst.
Pierre Vaquier, CEO of AXA IM – Real Assets says: “These appointments are aligned with our clear goal of establishing AXA IM – Real Assets as one of the world’s leading investment and asset managers, and gaining further ground across the US and North America represents a significant part of those plans.
“Our establishment as a key player in North America is largely a credit to Olivier Thoral, and I would like to take this opportunity to thank him for his continued drive whilst overseeing our activities in this market over the past six years. Steve McCarthy has also been integral to our success in the US and, with Olivier returning to Paris, I am of the firm belief that he is the best person to build on the momentum achieved to date and oversee the next phase of AXA IM – Real Assets’ growth in this important market, with the support of Aaron Kutner. The new team has ambitions to accelerate growth of our North American portfolio in line with the demands of our clients.”
