Axa Adds OMERS Private Equity Funds

Jul 9 2012 | 7:11am ET

Insurer Axa's private equity business has struck a deal for 11 funds owned by the private equity division of a major Canadian pension plan.

The portfolio of buyout funds is worth about US$850 million. They include North American and global funds currently owned by the Ontario Municipal Employees Retirement System.

"This is a large and significant transaction where we have excellent visibility on the assets, especially given that we are an existing investor in many of the funds," Benoit Verbrugghe, who heads Axa Private Equity's North American effort, said. "Having an international team with global reach gives us excellent perspective on pricing and quality, allowing us to be opportunistic on behalf of our investors and reinforce our strategy of buying excellent quality assets."

For its part, OMERS Private Equity CEO Paul Renaud said that the "transaction is consistent with OMERS' strategic shift towards direct investing."

The OMERS deal is the third private equity purchase for Axa PE in the last 13 months; in June of last year, it bought US$1.7 billion in assets from Citigroup and US$740 million in assets from Barclays.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...