AXA Private Equity acquires Steadfast fund Paris, 21 February 2006

A consortium led by AXA Private Equity, one of Europe's leading private equity houses, has acquired the German private equity fund "Steadfast Capital Beteiligungen I". The purchasing consortium was led by AXA Private Equity and also includes CSFB Strategic Partners and Paul Capital Partners. The fund was sold by ING Group. The "Steadfast Capital Beteiligungen I" fund consists of a total of 14 holdings in small and medium-sized enterprises and other private equity funds.

Stephan Illenberger, member of AXA Private Equity's Global Executive Committee was very satisfied with the transaction: "Thanks to our meticulous due diligence and excellent management cooperation, we now know the fund and portfolio very well. These are high quality holdings. The negotiations also paved the way for further productive collaboration with the Steadfast team."

As a result, AXA Private Equity has agreed to invest in the new Steadfast Capital Fund II. This year, Steadfast Capital intends to raise a total of €200 –€250 million for its new fund which will also focus on well managed medium–sized companies. At the time of its first closing, there were already capital commitments of €140 million from a range of investors.

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