AXA strengthens relations with Quebec company

The Caisse de dpt et placement du Qubec a financial institution that primarily manages funds for public and private pension and insurance plans and AXA, through its subsidiary AXA Private Equity recently increased their joint private equity efforts on the key markets of North America, Europe and Asia.
The two groups recently signed the agreement in Paris.
The agreement has several components:
* The two organizations will consolidate their joint position on Europe’s mid-sized enterprise market through direct investments, funds of funds or a co-investment fund.
* The agreement calls for development, through AXA Private Equity in Asia, of a fund specializing in the Asian market, of which AXA Private Equity and the Caisse de dpt et placement du Qubec will be the two main partners in the fund.
* AXA Private Equity and the Caisse will also work together to develop an investment structure for the mid-sized market in the US, through a fund of funds and a co-investment fund.
* The Caisse and AXA Private Equity plan to pool their resources to ensure more effective coverage of market intelligence and will share information on best management practices, especially through exchanges of personnel.
Both partners plan to maintain their conduct of business independence.
However, together, the two organizations will provide more than (euro) 1.5 billion to implement this agreement.
Henri-Paul Rousseau, president and CEO of the Caisse, says this agreement will be beneficial for the institution.