Paris-based asset management firm AXA Investment Managers, a unit of insurance firm AXA, has landed 643 million euros ($732.3 million) for its second Pan-European Value-Added Venture fund, (PEVAV II).

PEVAV II’s capital, that surpassed its initial $569.3 million target, was secured from an international institutional investor base.

The vehicle will seek to inject in and create value from underperforming assets as well as letting and re-letting initiatives which an intent to generate and or boost income streams.

PEVAV II majorly focuses on assets in proven locations in Germany, Italy, France, the Nordics, Spain as well as the UK.