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Axa SA's Private Equity Completes Spin Out to Become Ardian-Reuters

Wednesday, 2 Oct 2013 11:05am EDT 

Reuters reported that AXA SA's private equity arm said on September 30, 2013, that it had completed a spin out from its parent company, with management and employees taking the biggest stake of the newly named Ardian. AXA SA will retain a 23% stake in the independent fund manager, which will run USD 36 billion in assets. Management and employees will hold 46% of the company, with European institutions and French family offices the remainder.