3i Group may put in a bid for the private equity fund unit of insurer Axa, Bloomberg reports. U.K’s biggest publicly traded buyout firm has appointed the advisory unit of Blackstone Group to advice on an offer for Axa Private Equity. The Paris-based business manages some $28 billion in assets.
The first-round bids are due this week and 3i is expected to put in an offer. Private equity firm Kohlberg Kravis Roberts & Co. and Canadian pension-fund manager Caisse de Depot et Placement du Quebec have also shown interest.
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