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Monday, April 15, 2024

AXA IM boosts its non-public market providing with W Capital deal

AXA Funding Managers, AXA IM, has acquired W Capital Administration (W Capital Companions), a US-based non-public fairness agency.

W Capital will sit in AXA IM Prime, AXA IM’s totally built-in supplier of funding options throughout non-public markets, together with non-public fairness, non-public debt, infrastructure, and hedge funds.

As well as, AXA IM Primate will strengthen its presence in North America, together with the US, due to the W Capital deal.

Moreover, W Capital has been a pioneer in offering secondary market liquidity options to personal fairness Common Companions (‘GPs’).

With this transaction, AXA IM affirms its ambition to additional diversify its non-public markets providing within the rising and evolving non-public fairness secondaries sector, which has seen greater than $85bn raised and $111bn of transaction volumes in 2023.

Marco Morelli, government chairman of AXA IM, stated: “We’re delighted to hitch forces with W Capital Companions, which is well-established within the US and identified for its robust experience. It’s a distinctive alternative to offer our purchasers with entry to new sources of worth creation whereas scaling WCP’s platform.”

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Pascal Christory, chief government of AXA IM Prime, added: “This acquisition is one other vital step for AXA IM Prime. Our imaginative and prescient since launching in 2022 is to be a number one world full-service capital options supplier to GPs within the quickly rising non-public markets. We had recognized GP-led and direct secondaries as a key technique for our portfolio of personal fairness merchandise and had been in search of an strategy that may mix the appropriate ranges of creativity, valuation expertise and structuring experience. We discovered the proper accomplice in W Capital Companions and are enthusiastic about this new alliance, which is able to deliver differentiated and excessive worth funding methods for our purchasers”.

David Wachter, managing accomplice and co-founder of W Capital Companions, continued: “We’re thrilled to be becoming a member of AXA IM Prime. As a pioneer in GP-led and direct secondaries, this partnership will enable us to ship, at a bigger scale, the relationships and structuring experience we now have labored laborious to develop for our GP companions and our buyers. With a standard tradition and imaginative and prescient, we sit up for working carefully with the Prime group to offer a spread of options in our quickly rising and extremely modern market.”

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