AXA Funding Managers Prime has taken a 20 per cent stake within the French non-public credit score agency Rivage.
Rivage specialises in European infrastructure direct lending and French public sector financing, and has greater than €7.7bn (£6.49bn) in dedicated capital beneath administration.
The funding was made by way of the AXA IM Prime GP Stake technique, the place partnerships take the type of minority fairness investments, with the GPs remaining impartial of their daily administration in addition to of their funding course of.
Rivage will proceed to function as a stand-alone enterprise led by its present administration staff.
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“We’re delighted to welcome AXA IM Prime as a strategic shareholder in our agency,” mentioned Hervé Besnard, chairman of Rivage.
“Constructing on our present relationship, this partnership preserves our independence whereas serving to us increase the depth and breadth of the funding options we offer to buyers.
“It is going to additionally allow us to take additional benefit of the numerous market alternative to finance the infrastructure, public sector, power transition and decarbonisation initiatives.”
AXA IM is a long-standing investor in Rivage’s funding methods, and mentioned that the brand new collaboration goals to spice up Rivage’s new worldwide enlargement plans.
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AXA IM Prime additionally plans to take a position extra capital into Rivage’s infrastructure debt excessive return methods.
“With its market main infrastructure debt experience, the standard of its investor relationships, give attention to sustainability, and its long-term observe report throughout methods, we’re assured in Rivage’s capacity to increase with the target to proceed delivering differentiating efficiency and worth proposition for its shoppers,” mentioned Gilles Dusaintpère, head of AXA IM Prime GP Stake Investments.
“We’re happy to develop our relationship with Rivage as they enter the following part of their growth.”
The transaction is predicted to shut inside the coming months.
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