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AXA PE instates NY senior managing director AXA PE instates NY senior managing director

07 Jul 2010. Source: AltAssets
Off the back of buying out investment bank Natixis’ in-house fund management unit, France’s AXA Private Equity has instated a senior managing director in its New York office to help expand its footprint in the US and Canada.

Benoit Verbrugghe, who has been with the firm for just over a decade, was previously based in Paris in AXA’s fund of funds team and has been instrumental in developing the firm’s presence outside of its home country.

Verbrugghe played a key role in AXA’s recent secondaries deal with Bank of America – one of the biggest transactions of its kind. BofA offloaded $1.9bn worth of mature buy-out fund interests to AXA Private Equity.

The acquisition of the weighty portfolio of fund interests has ramped up the firm’s foothold in the States, which AXA now hopes to further through this relocation of Verbrugghe to New York.

As well as offices in Paris and New York, the French firm has bases in Frankfurt, London, Singapore, Milan, Zurich and Vienna.

Copyright © 2010 AltAssets

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