AXA, LGT buy $901m in secondary assets from German bank
AXA Private Equity and LGT Capital Partners have acquired a EUR620 million ($901 million) private equity portfolio from Germany’s HSH Nordbank. The portfolio is said to include stakes in about 47 private equity funds, including European vehicles managed by the likes of KKR, The Carlyle Group and Cinven.
The two buyers will split the secondary fund interests, with AXA believed to have put more than EUR350 million into the transaction, which also includes future commitments to funds. HSH is one of a number...
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