1 minute read | July.04.2025
AXA IM Alts has sold a 40% interest in the entity holding The Boost Society (formerly KLEY Group) to Norges Bank Investment Management. In conjunction with this transaction, AXA IM Alts secured €660m in third-party capital for its European Student Accommodation Strategy.
Orrick represented AXA IM Alts.
AXA IM Alts is a global leader in alternative investments with €186 billion of assets under management.
AXA IM Alts’ The Boost Society is a platform which comprises a fully integrated student housing & co-living operator and portfolio that was originally formed in October 2019 when AXA IM Alts acquired KLEY Group on behalf of clients.
Norges Bank Investment Management is the asset management unit of Norges Bank, Norway's central bank.
The transaction will enable The Boost Society to accelerate its growth ambitions and further strengthen its position as a leading operator in the French student housing and co-living market. The partnership with Norges Bank Investment Management will provide additional resources and expertise to support the platform’s long-term development and expansion.
Orrick’s Patrick Tardivy and Olivier Jouffroy led the team that advised AXA IM Alts. The team also included Julien Beloeil, Elodie Maecha, Nadège Owen, Chek-Lhy Luu, Elise Naudin, Alexandra Pawlowski, Julia Apostle and Rami Kawkabani.