AXA IM Prime takes 20pc stake in private credit firm Rivage
AXA Investment Managers Prime has taken a 20 per cent stake in the French private credit firm Rivage.
Rivage specialises in European infrastructure direct lending and French public sector financing, and has more than €7.7bn (£6.49bn) in committed capital under management.
The investment was made via the AXA IM Prime GP Stake strategy, where partnerships take the form of minority equity investments, with the GPs remaining independent in their day to day management as well as in their investment process.
Rivage will continue to operate as a stand-alone business led by its existing management team.
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“We are delighted to welcome AXA IM Prime as a strategic shareholder in our firm,” said Hervé Besnard, chairman of Rivage.
“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.”
AXA IM is a long-standing investor in Rivage’s investment strategies, and said that the new collaboration aims to boost Rivage’s new international expansion plans.
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AXA IM Prime also plans to invest more capital into Rivage’s infrastructure debt high return strategies.
“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,” said Gilles Dusaintpère, head of AXA IM Prime GP Stake Investments.
“We are pleased to develop our relationship with Rivage as they enter the next phase of their development.”
The transaction is expected to close within the coming months.
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