AXA Profits Up From PE Sale

March 22
2:26 PM 2013

In a statement, AXA is expecting to receive Eur 200 million or US$259.94 million gain from the buyout of its private equity unit.The French insurer confirmed that it would sell the majority of its interests over AXA Private Equity.

The company was bought out by its own management and staff, purchasing 40% from the French insurer, who then retains a 26.9% stake in the equity firm. The valuation of AXA Private Equity was pegged at Eur510 million and the sale is now pending before representatives and regulatory authoriities. 

The second largest insurer in Europe engaged the services of Credit Suisse to determine the options for the private equity subsidiary with a portfolio of US$28 billion in assets alone. The move is designed to comply with new EU capital regulations under the Basel II industry rules.

Under the aegis of Dominique Senequier, AXA PE has reached new heights. She is also heading the management buyout from AXA, together with shareholdings from staff of the PE firm.

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