AXA : Raises $7 Billion Fund for Buyout Deals - FT
06/17/2012| 08:01pm US/Eastern
Axa Private Equity, a unit of French insurance company AXA SA (CS.FR), has raised $7.1 billion from outside investors, double the amount originally expected, for so-called "secondaries" deals whereby it would buy stakes in buyout funds from investors looking to cash out of positions, the Financial Times reported on its website Sunday.
"The banks are natural sellers of private equity, and this will continue for the next two to three years," the FT quoted Vincent Gombault, head of fund of funds at Axa Private Equity, as saying. He sees $40 billion-$50 billion coming up for sale in the years ahead, the report added.
Full story: http://www.ft.com/intl/cms/s/0/02b28b5c-b719-11e1-bd0e-00144feabdc0.html#axzz1y5s0hsUS