AXA Inks Spin Out of PE Arm

AXA on Friday announced the sale of a majority stake in its PE arm to an investor group led by Dominique Senequier. AXA Investment Managers will receive Euro 488 million for its holding in AXA Private Equity, a statement says. The deal is expected to close before the end of third quarter. Once the deal closes, AXA PE management and employees will have 40% of voting share capital, while external investors will have 33%. AXA Group will have nearly 27%.

DealsNorth AmericaUSBriefs