AXA Private Equity

AXA Private Equity announced at the end of November that it manages/advises private equity funds for investors worldwide in excess of EUR 6.5bn. The group has just successfully closed its third generation Secondary Fund of Funds, AXA Secondary Fund III, at $1.04bn. This fundraising coupled with the EUR 237m raised for its Early Secondary Fund of Funds that was closed in June 2004, confirms AXA Private Equity's position as a world leader in the secondary market. Of particular interest, the Early Secondary fund, AXA Private Equity Fund of Funds II, has acquired a portfolio of 21 holdings in (mainly LBO) US funds from Deutsche Bank. The acquired investments involve total commitments worth $382m that are less than 50% drawn-down and the deal rounds off the funds previous eight investments.

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• GPs
• France