BNP Paribas has completed its acquisition of AXA Investment Managers, with AXA receiving €5.1 billion in cash proceeds for its entire stake in the asset management business. The transaction closed on 1 July 2025.
The acquisition was made through BNP Paribas Cardif, the group's insurance subsidiary, and AXA IM is being combined with BNP Paribas Asset Management and BNP Paribas REIM into a platform with more than €1.5 trillion in assets under management. AXA IM itself manages approximately €850 billion in assets, covering fixed income, equities, multi-asset strategies, and alternatives on behalf of institutional and retail clients across dozens of markets globally.
DEAL STRUCTURE
Alongside the transfer of ownership, BNP Paribas and AXA agreed a long-term partnership that secures AXA as a long-term client of the newly configured asset management platform.
The €5.1 billion consideration was paid entirely in cash, and on completion BNP Paribas was in talks with supervisors over the deal's impact on its capital, Reuters reported. AXA said it intended to use around €3.8 billion of the proceeds for a share buyback launched after closing.