(Reuters) – AXA IM Prime, a unit of AXA Investment Managers, will acquire a 20% stake in French private credit firm Rivage Investment, the two companies said in a joint statement on Tuesday.
Separately, AXA IM Prime, a long-standing investor in Rivage’s strategies, will also put money in some of its infrastructure debt strategies, the companies said.
Rivage has over 7.7 billion euros ($8.33 billion) in committed capital under management.
Bloomberg, which first reported the news, said AXA IM Prime was looking to raise about 400 million euros for its first General Partner stakes fund and has already raised at least half of that target.
AXA IM aims to accelerate Rivage’s growth with new initiatives and international expansion, the companies added.
Rivage has invested more than 8.2 billion euros on behalf of blue-chip institutional investors since the launch of its first fund in 2013.
($1 = 0.9240 euros)
(Reporting by Devika Nair in Bengaluru; Editing by Janane Venkatraman)
