AXA Private Equity Buys Stake in Arkadin; Second Deal in as Many Days

Date : 07/04/2012 @ 8:26AM
Source : Dow Jones News
Stock : Microsoft Corp. (MM) (MSFT)
Quote : 74.41  0.0 (0.00%) @ 9:10AM

AXA Private Equity Buys Stake in Arkadin; Second Deal in as Many Days

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AXA Private Equity said Wednesday it has bought a 45% stake in virtual-conferencing provider Arkadin, the investment company's second deal in as many days.

Financial details of the transaction weren't disclosed but it follows the exit of Arkadin's original investors including Apax Partners, Altamir Amboise, Innovation Capital and UFG-Siparexa.

Arkadin has 1,000 employees in 29 countries and generated revenue of 159 million euros ($200.2 million) in 2011. A large part of its growth has been based on partnerships with leading telecom operators and global technology companies such as Microsoft Corp. (MSFT).

The transaction comes just a day after AXA Private Equity bought a portfolio of 11 private equity fund investments from OMERS Private Equity, the private equity arm of Ontario Municipal Employees Retirement System. The portfolio comprised investments in buyout funds worth some $850 million in original commitments and including the related unfunded commitments.

AXA Private Equity manages assets of $28 billion including funds of funds both primary and secondary, and direct funds. It has been an active buyer of assets over the last few years in particular capitalizing on the disposal of portfolios by large global banks looking to derisk and boost balance sheets.

In June 2011 AXA Private Equity bought a $1.7 billion portfolio of private equity assets from Citigroup (C) and a $740 million private equity portfolio from Barclays PLC (BCS).

Write to Marietta Cauchi at marietta.cauchi@dowjones.com

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