AXA PE opens Beijing office, reaches halfway point on third Asia fund
AXA Private Equity has opened an office in Beijing as part of efforts to boost north Asia exposure as it seeks to raise $500-600 million for a third regional fund. With AXA Capital Asia II now 80% deployed, the firm reached a first close of $300 million for its successor vehicle in September. As with previous funds, 70% of the corpus will be committed to Asian GPs while the remainder is channeled into direct investments.
"About half of our investments in Asia have been in China and North Asia accounts for 70% of our business in the region as a whole," Jenhao Han, head of AXA Private Equity Asia, told AVCJ. "North Asia...
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