AXA PE continues secondaries spree with OMERS portfolio purchase
AXA Private Equity has acquired a portfolio of 11 private equity fund investments and related unfunded commitments from OMERS Private Equity.
The portfolio consists entirely of buyout funds. It represents a total size of approximately $850m in original commitments, in predominantly North American and global funds. OMERS stated the move was consistent with its strategic shift towards direct investing.
Meanwhile, AXA PE is building a streak of large purchases on the secondaries market – the firm notably bought $1.7bn worth of private equity assets from Citigroup in June 2011, and completed the $740m acquisition of private equity assets from Barclays that same month.
AXA PE secured $7.1bn for its secondaries fund-of-funds and $900m for its primary investment fund-of-funds in mid-June.
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