AXA private Equity to Buy Citigroup Buyout Fund Assets, WSJ Says

AXA Private Equity, a unit of France’s AXA SA (CS), is to pay $1.7 billion for buyout fund assets from Citigroup Inc. (C) as the U.S. bank cleans house in the aftermath of the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

The assets consist of 207 limited partnership interests in buyout funds, including those owned by KKR & Co., Blackstone Group LP (BX), Carlyle Group and Providence Equity Partners, as well as direct holdings in about 20 companies, the newspaper said.

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