AXA Private Equity announced that Benoit Verbrugghe is being promoted from managing director to senior managing director, and that he will relocate from Paris to run the firm’s New York office.
AXA Private Equity announced today the appointment of Benoit Verbrugghe, Senior Managing Director, Head of the New York Office. Mr. Verbrugghe will be responsible for helping to further expand AXA Private Equity’s business in North America.
Previously, Mr. Verbrugghe was a Managing Director based in AXA Private Equity’s Paris office where, as part of the Fund of Funds team, he played an active role in developing the firm’s business around the world, including North America. In his new position, Mr. Verbrugghe has relocated to New York and will focus on North America, where AXA Private Equity has achieved substantial growth in the last several months.
Over the past 18 months, Mr. Verbrugghe played a key role alongside Dominique Senequier, Chief Executive Officer and Vincent Gombault, Managing Director Fund of Funds in AXA Private Equity’s April 2010 acquisition of a US$1.9 billion portfolio of limited partnership interests in private equity funds from Bank of America (NYSE:BAC). This deal represented one of the largest secondary private equity transactions in history and asserted AXA Private Equity’s world leadership in secondary fund-of-funds. The Bank of America portfolio substantially strengthened AXA Private Equity’s position in the United States, where it was already a leader in secondary fund-of-funds.
“Benoit has demonstrated strong leadership and formidable investment strategy skills,” said Ms. Senequier. “The selection of Benoit to head up the New York office is a reflection of his substantial contributions to the firm. We see significant opportunities in the North American market and we are pleased to have Benoit lead our business in the region.”
Mr. Verbrugghe joined AXA Private Equity in 1999, having formerly worked in M&A transactions at a boutique firm. Mr. Verbrugghe has a Master’s degree from ESSEC – DESS in Banking and Finance.
ABOUT AXA PRIVATE EQUITY
AXA Private Equity is a leading private equity firm with US$25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing.
With offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna, AXA Private Equity supports the development and long-term growth of its portfolio companies with sustainable growth strategies and by granting them access to the AXA international network. AXA Private Equity has earned the trust of its investors by regularly supplying them with transparent performance data on its funds and portfolio companies.