Axa buys private equity assets from Bank of America

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US - Axa SA's private-equity unit agreed to buy $1.9bn of investments in private-equity funds from Bank of America Corp. as the buyout industry emerges from the worst recession in 70 years.

Axa Private Equity is buying stakes in 60 mostly U.S.-based private-equity funds at a discount, Vincent Gombault, head of Axa Private Equity's fund of funds business, said during a call with report...

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