Natixis to sell part of its PE activity to AXA PE

Natixis is in talks to sell part of its private equity activity to AXA Private Equity. AXA PE have made a bid for iXEN Partners and NI Partners, which are already in the process of merging, as well as Initiative  & Finance Gestion, which has subsequently suspended public trading. The bid values their combined portfolio at €507m, with potential performance-led premiums. IFRS had valued the portfolio at €543m at the end of 2009.

The offer includes engagements to raise new funds with the current teams in which Natixis would act as co-sponsor with AXA PE. Natixis and AXA PE are in exclusive talks for a month.

The sale is in line with Natixis’ planned reorganisation of it private equity assets announced in August 2009.

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