AXA PE, Pantheon, ACP pick up Suomi Mutual private equity interests


A trio of buyout firms have picked up a portfolio of private equity fund interests from Finnish insurance group Suomi Mutual, it is understood.

The €150m portfolio was picked up at a “competitive discount” on the secondaries market by AXA Private Equity, Pantheon and Access Capital Partners according to Dow Jones.

It said the portfolio included interests in funds managed by European buyout firms including Apax Partners, Doughty Hanson and EQT Partners.

The move is the latest divestment of private equity interests by an insurance company ahead of the EU’s new Solvency II directive coming into force.

Solvency II demands demands insurers hold more capital to reduce the risk of insolvency in the wake of the 2007 financial crisis.

Despite the sales almost almost two-thirds of insurance companies plan to make new private equity investments before the end of the year, recent research has shown.

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