AXA Private Equity Looks To Raise $4B Secondary Fund

The fundraising market may be difficult right now, but that’s not stopping AXA Private Equity, which has begun marketing for its fifth fund, peHUB has learned.

Paris-based AXA Private Equity began fundraising two weeks ago. The pool, expected to come in at $4 billion, will be a “regular secondaries fund,” a source says.

AXA Private Equity’s last fund raised $2.85 billion in 2006. It’s not clear how much is invested.

AXA Private Equity, which has $25 billion in assets under management, is part of AXA Investment Managers.
In October, AXA Private Equity bought  a 41% stake in KOS, a provider of health services for the elderly. This month, AXA Private Equity acquired an 11% stake in Arismore, a French IT company.

Some firms have opted to push fundraising until last year. KKR said last week that it plans to start marketing for its next North American fund in early 2011. KKR execs said on a conference call that the fundraising market has improved but institutional investors are still cautious.

Officials for AXA Private Equity couldn’t be reached for comment.