AXA PE buys $740m portfolio from Barclays
AXA Private Equity has acquired a $740m portfolio of 22 limited partnership interests in private equity buyout funds and a number of stakes in co-investment vehicles from Barclays.
The portfolio does not include any investments managed by Barclays Private Equity. The purchase price of the assets was not revealed.
Earlier this month, AXA acquired a $1.7bn portfolio of assets from Citigroup. In 2010, AXA Private Equity’s funds-of-funds business invested more than $3bn, mainly through its acquisitions of two large portfolios of fund interests and direct investments respectively from Bank of America ($1.8bn) and Natixis ($900m).
The latest transaction continues AXA’s strategy to offer liquidity to large institutions looking to monetise their private equity investments.
People
Dominique Senequier is the CEO of AXA and Vincent Gombault is member of the board and managing director of funds-of-funds at the private equity house.
Advisers
Equity – Baker & McKenzie, Bruno Bertrand, James Burdett, James MacLachlan, Frédéric Moulin, Benoit Champon, Adrien Descoutures, Gonzague Basso, Priya Kumar and Victoria Dockrell (Legal); Burness (Legal).
Vendor – Freshfields Bruckhaus Deringer (Legal); Brodies (Legal).
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