Caisse, GIC Reportedly In Lead to Buy AXA Private Equity

We finally have some news on the sale of AXA Private Equity.

According to Financial News, Caisse de Dépôt et Placement du Québec and the Government of Singapore Investment Corp. are in the “pole position” to jointly buy AXA PE.

Onex and KKR were in the running to acquire AXA PE but have dropped out, Financial News says.

One PE exec discounted the rumors as “rumors,” while another exec said they weren’t surprised the Canadian pension plan was first in line.

In late September, AXA put its PE fund manager up for sale. Paris-based AXA PE, one of Europe’s largest purveyors of funds of funds, manages roughly $28 billion of assets. Bids were expected to range from $700 million to $1 billion, sources have told peHUB. Credit Suisse is advising on the auction.

Onex was expected to team up with the Canadian pension plan. KKR was also interested at the time, peHUB has reported.

BlackRock also dropped out of the auction early on, peHUB has said.

Officials for Caisse de Dépôt et Placement du Québec could not be reached for comment.