Axa expands private equity product suite

Axa Private Equity sees strong demand for private equity products in Europe, particularly among German institutional investors.

Axa Private Equity has reached first closing of a new secondary fund after raising E350m in just two months. The Axa Secondary Fund will specialise in mature funds and tail portfolios. Co-advised by the firm’s Paris and Frankfurt office, it is a global fund that plans to close this September at E450m.

In the past Axa Private Equity has been primarily active in France but now has extended its reach across Europe. The growth of its product suite coincides with European institutions showing a stronger appetite in this asset class. For instance, Axa Investment Managers are now offering German institutional investors access to a range of Private Equity products which include fund of funds, secondary funds and venture capital and LBOs.

Institutional investors in Germany are particularly interested in fund of funds on offer. Managed by the London and New York teams, the funds are endowed with E300m and $300m respectively. Dominique Sénéquier of AXA Private Equity, says European investors are beginning to commit larger amounts, while those who have historically never shown an interest are now showing one.

Günther Skrzypek, CEO of AXA Investment Managers in Germany, believes that the private equity market in Europe will develop just as rapidly as it did in the USA. He also says that Germany is “exceptionally well positioned” within this rapidly expanding market. “The clear strategy and high transparency of all of our private equity solutions enable us to achieve attractive yields for our institutional clients, whilst at the same time our clients’ portfolios are exposed to less overall risk,” he said.