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Axa Private Equity closes fourth secondary fund at USD2.9bn

Axa Private Equity has completed the final closing of Axa Secondary Fund IV, bringing its total assets under management in secondary funds to more than USD5bn and consolidating its positio

Axa Private Equity has completed the final closing of Axa Secondary Fund IV, bringing its total assets under management in secondary funds to more than USD5bn and consolidating its position as a leading player in the secondaries market.

The new secondary fund has attracted USD2.9bn from major institutional investors worldwide, primarily pension funds, government agencies, financial institutions and family offices.

The fund, which will acquire existing positions held by institutional investors in private equity funds, offers investors short-term liquidity in an asset class where investments are usually long-term.

The new fund has already invested 10 per cent of its capital in two significant deals, a commitment of up to EUR134m in two Italian mid-market private equity funds, Sofipa Equity Fund and Sofipa Equity Fund II, and a commitment of USD132.5m with a US buyout firm.

Axa Private Equity offers a wide selection of funds across asset classes including buyout, expansion and venture capital, co-investment, mezzanine and funds of funds (primary, early secondary and secondary).

The firm manages and advises private equity funds with assets of more than EUR11.3bn for major international investors from its offices in Paris, Frankfurt, London, Milan, New York and Singapore.

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