Baker & McKenzie Advises AXA Private Equity on USD1.7 Billion Purchase of LBO Assets

Friday, June 10, 2011
Tags:  Baker McKenzie
Baker & McKenzie has advised AXA Private Equity on the USD1.7 billion purchase of leveraged buyout assets from Citigroup Inc.

In one of the largest secondary private equity transactions ever, AXA Private Equity is acquiring a Citigroup portfolio of over 200 limited partnership interests in private equity buyout funds and direct stakes in companies. This transaction continues AXA Private Equity’s secondary funds strategy to offer liquidity to large institutions looking to monetise their private equity investments.
In April 2010, Baker & McKenzie also advised AXA Private Equity on the USD1.9 billion purchase of an investment portfolio from Bank of America, as well as a deal to acquire a USD779 million major stake in the  private equity holdings of French bank Natixis.
Baker & McKenzie Paris Private Equity Partner Bruno Bertrand who led on the transaction said: “We are delighted to continue to advise AXA Private Equity on its major secondary transactions and partner with them in their success.”
The Baker & McKenzie team also included London Private Equity Partner James Burdett, London Tax Partner James macLachlan, New York Finance Partner Niamh Curry, Chicago Tax Partner Todd Golub, assisted by Paris Counsel Albane Sévin, Paris Associate Benoit Champon, London Associates Philip Monahan, David Scott and Priya Kumar, New York Associates Rekha Auld and Danielle Rowland and Chicago Associate Sarah Harris.
AXA Private Equity is a leading private equity firm with USD25 billion in managed assets and a global reach extending across Europe, North America and Asia. The firm offers investors the full spectrum of private equity services for every market segment: direct funds, infrastructure financing, mid cap and small cap buyouts, venture capital, co-investments, fund of funds as well as mezzanine financing. Citi is a leading global financial services company, with approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions.
Citigroup is advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.