Axa Investment Managers (IM) is to merge its Alts arm with Axa Group’s private markets fund of fund business.
To be known as Axa IM Prime (Private Markets Enabler), it will bring together primary and secondary private equity and infrastructure, general partnership minority stakes, private debt, fund of hedge fund, fund financing and co-investments.
Asses under management across the board will stand at roughly €20bn (£16.9bn).
Discussions on the creation of the unit are ongoing with employee representative, the firm said.
Extensive goals across geographies
The unit will be led by Axa Group CIO Pascal Christory. He will join the Axa IM management board and report to executive chairman Marco Morelli.
Four investment professionals who are currently leading Axa Group’s infrastructure, private equity and private debt investment businesses will join Axa IM Prime.
Axa Group entities will be substantial cornerstone investors in all funds launched by Axa IM Prime, alongside third-party capital.
Morelli commented: “Our ambition is to leverage the excellent joint track record of Pascal’s team as well as the maturity it has gained over the last years and transform this into an asset management business with strong third-party capital raising objectives.
“This new business unit would benefit from the ESG expertise, scale, operating model and organisation of Axa IM to accelerate its growth.
“It would complement the solid direct alternative investment offer we already provide to our clients through Axa IM Alts, for which we continue to have extensive development goals across our geographies.”
