Crédit Agricole confirms disposal of private equity interests

AXA is in talks with Crédit Agricole to acquire a portfolio of private equity interests from the French bank amounting to EUR 600m. Following the completion of the merger between Crédit Agricole and Crédit Lyonnais, the deal ties in with the banks’ restructuring of commitments to private equity totalling EUR 2.5bn. Crédit Agricole is looking to divest its stake in the joint venture buyout fund managed by Pragma Capital as well as other vehicles managed by Cinven, PAI partners, Providence Equity Partners, The Carlyle Group and Blackstone. The bank has already transferred a EUR 100m interest in private equity to Eurazeo following the group’s merger with Rue Imperiale. Other disposals are likely to include Union d’Etudes et d’Investissements.

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