AXA PE Raises $3B For PE FoF

AXA Private Equity’s (AXA PE) secondary private-equity fund-of-funds (FoF) has raised a total of $3 billion,The Wall Street Journalreports. The firm also aims to raise a maximum of $4 billion for theAXA Secondary Fund V.

The portfolio will be used to buy private equity fund stakes from investors globally. The firm has acquired over $5 billion of secondary private-equity fund portfolios from banks in the last 18 months.

Click here for the story fromThe Wall Street Journal.