AXA private equity debt head leaves

Cécile Mayer-Lévi has opted out of the next fund cycle, leaving Olivier Berment as head of AXA PE’s private debt activities just after the firm closed a long-awaited spin-off from its parent insurance group.

Cécile Mayer-Lévi, co-head of private debt at AXA Private Equity (AXA PE), has left the Paris-based firm. 

Mayer-Lévi, who joined AXA PE in 2005, held various positions within the firm’s private equity and private debt teams. She most recently worked as a managing director and co-head of its private debt operations. 

AXA is not planning to replace Mayer-Lévi, leaving Olivier Berment as sole head of AXA PE’s private debt activities, according to a source close to the matters. No information was released on her future career plans.   

“After 8 years at AXA Private Equity, where she participated in the launch and subsequent development of the firm’s private debt activity, Cécile Lévi decided not to commit to a new cycle of investment. As AXA Private Equity is raising a new generation of funds, she has decided to pursue a new direction in her career,” a spokesperson for AXA PE said. 

The news comes a few months before AXA PE's planned spin-off from its parent insurance group. AXA announced that an agreement had been reached on the divesture last month, in a deal valuing AXA PE at €510 million.

The acquiring investors are to include the firm’s senior management, as well as a group of institutions and French family offices, with AXA due to retain a 27 percent stake in the business. 

AXA PE is currently raising its latest leveraged buyout vehicle, AXA LBO Fund V, with a target of €2 billion. As of November 2012, the fund had collected more than €1.1 billion in commitments.

For more in-depth coverage of the private debt markets, check out Private Equity International's recently launched sister publication, Private Debt Investor.