European private equity firm AXA Private Equity has bought from Nataxis, a division of French bank BPCE, the majority of its proprietary private equity activities in France for EUR 507 million ($714.6 million). The deal includes the activities of iXEN Partners and NI Partners and those of Initiative & Finance Gestion.
Following the agreements announced on July 5 2010, Natixis confirms the completion of the sale, to a fund advised by AXA Private Equity, of the majority of Natixis’ proprietary private equity activities in France, including the activities of iXEN Partners and NI Partners and those of Initiative & Finance Gestion.
The assets sold will be managed or advised by the existing teams, on a freelance basis.
The investment entities concerned were sold for a total amount of E507 million. The impact of this transaction has been reflected in the accounts of Natixis in 2009 and first half 2010. This amount will potentially be increased through an earn-out based on future portfolio assets disposals.
Furthermore, a new fund co-sponsored by AXA Private Equity and Natixis, in which Natixis is to act as a minority investor, acquired investments carried out since January 1, 2010 by Natixis for a total amount of E37 million.
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.
AXA Private Equity, Global investments, the European way
Natixis is the corporate, investment and financial services arm of BPCE, the 2nd-largest banking group in France with 22% of total bank deposits and 37 million clients spread over two networks, Banque Populaire and Caisse d’Epargne.
With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking, insurance) and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of BPCE’s two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total Tier 1 capital of E12.8 billion, a Tier 1 ratio of 9.2% and quality long-term ratings (Standard & Poor’s and Fitch Ratings: A+; Moody’s:- Aa3).