AXA IM Prime is acquiring a 20% stake in infrastructure and public sector financing asset manager Rivage Investment.
Rivage, with over €7.7bn in committed capital under management, specialises in European infrastructure direct lending and French public sector financing.
AXA IM Prime, which is investing an unspecified amount via its general partner (GP) stake strategy, said the investment will support Rivage’s next phase of development.
Hervé Besnard, chairman of Rivage, said: “We are delighted to welcome AXA IM Prime as a strategic shareholder in our firm. Building on our existing relationship, this partnership preserves our independence while helping us expand the depth and breadth of the investment solutions we provide to investors.
“It will also enable us to take further advantage of the significant market opportunity to finance the infrastructure, public sector, energy transition and decarbonisation projects.”
Gilles Dusaintpère, head of AXA IM Prime GP stake investments, said: “With its market leading infrastructure debt expertise, the quality of its investor relationships, focus on sustainability, and its long-term track record across strategies, we are confident in Rivage’s ability to expand with the objective to continue delivering differentiating performance and value proposition for its clients.
“We are pleased to develop our relationship with Rivage as they enter the next phase of their development.”
In May 2022, AXA Investment Managers created AXA IM Prime, a fund-of-funds business for primary and secondary private equity and infrastructure investments, GP minority stakes, private debt, funds of hedge funds, fund financing and co-investments.
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