AXA Closes Fourth Secondary Fund

Jun 8 2007 | 11:35am ET

AXA Private Equity further solidified its place among the behemoth secondary private equity houses with the final closing of its AXA Secondary Fund IV at US$2.9 billion.

The new fund boasts institutional investors worldwide, primarily pension funds, government agencies, financial institutions and family offices, according to the firm. It will acquire existing positions held by institutional investors in p.e. funds offering investors an out in a usually long-term asset class.

To date, ASF IV has invested 10% of its capital in two deals: A commitment of up to €134 million (US$192.8 million) in two Italian mid-market p.e. funds and a commitment of US$132.5 million in a U.S. buyout firm.

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