GLOBAL - The Caisse de dépôt et placement du Québec and Axa Private Equity will commit €1.5bn as they increase their joint private equity efforts in North America, Europe and Asia.
The agreement will see the two organisations consolidate their joint position on Europe's mid-sized enterprise market through direct investments, funds of funds or a co-investment fund.
The second component of the agreement will see for the development of a fund specialising in the Asian market, which will be done , through AXA Private Equity in Asia.
AXA Private Equity and Caisse will be the two main partners in the fund.
Caisse and AXA Private Equity said they intended to pool their resources to ensure more effective coverage of market intelligence and said they would share information on best management practices. They did however stress that both would maintain independence in terms of conduct of business. Together, the two organisations will provide more than €1.5bn to implement the agreement.
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