Canadian fund manager Caisse de dépôt et placement du Québec and Paris-based AXA Private Equity have entered into a partnership to better support their portfolio companies with international development prospects. The partners will share their market knowledge and networks in North America, Europe, Asia and the Middle East.
The partnership between the Caisse, a financial institution managing funds primarily for public and private pension and insurance funds, and private equity firm AXA is hoped to stimulate the growth of portfolio businesses by placing practical tools at their disposal. The improvement of productivity, globalisation of operations, and transfer of ownership are major challenges facing business leaders, both in Québec and Europe, according to a statement.
Normand Provost, executive vice president of private equity and COO of the Caisse, said, “The partnership is part of our strategy to provide additional support to the best performing and most promising mid-sized Québec businesses in their international expansion. The Caisse’s role is not simply to offer financing to businesses, but also to contribute its expertise and networks. We are offering them our ability to negotiate across all borders, as well as our international experience and extensive business network. We are delighted that AXA Private Equity has agreed to allow Québec businesses to benefit from its international network, which is particularly far-reaching in Europe and Asia.”
AXA Private Equity has $25bn in assets under management and offices in Paris, Frankfurt, London, New York, Singapore, Milan, Zurich and Vienna.
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