Axa Investment Managers (Axa IM) is forming a private markets business unit to house the private markets fund of fund business that the Axa Group has been developing with Axa IM Alts since 2013.
Axa IM Prime will bring together expertise in indirect alternative investments such as primary and secondary private equity and infrastructure, general partnership (GP) minority stakes, private debt, hedge fund of hedge funds, fund financing, and co-investments.
As of the end of 2021, assets under management for these activities totaled around €20 billion, with Axa IM already managing €12 billion.
Axa IM Prime will be led by Axa Group CIO Pascal Christory, who will report to Marco Morelli, executive chairman, on the Axa IM management board.
Axa IM Prime will be led by four Axa Group investment professionals who currently lead infrastructure, private equity, and private debt investment.
Axa IM Prime will have a dedicated sales force, similar to the Axa IM Alts and Axa IM Core organizations.
"This new business unit would benefit from the ESG expertise, scale, operating model and organization of Axa IM to accelerate its growth," Morelli said. "t 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."
The name 'Axa IM Private Markets Enabler' inspired the brand Axa IM Prime.
Employee representatives are currently discussing the creation of the business unit, according to Axa IM.
By fLEXI tEAM