Axa Private Equity Said to Buy $500 Million of Funds From Mizuho

Axa Private Equity agreed to buy $500 million of stakes in buyout funds from Mizuho Financial Group Inc., Japan’s third-largest bank by market value, three people with knowledge of the talks said.

The unit of Axa SA, France’s biggest insurer, is buying commitments to about 20 mainly U.S. and European funds managed by firms such as Blackstone Group LP, KKR & Co., BC Partners Ltd. and EQT Partners AB, said the people, who declined to be identified because the terms of the deals are private. London-based 3i Group Plc will manage the holdings for Axa, they said.