Former
AXA chief executive Henri de Castries is heading into the buyout business.
The Financial Times said the French veteran will be General Atlantic’s chairman of its European unit. De Castries will advise the US private equity firm in evaluating investment opportunities in Europe and assisting in value creation, according to the report.
“Investing in growth is going to be essential for economies and companies going forward,” De Castries was quoted as saying in the report. He added that deciding where to place your capital is the most important decision you have to make.
The report noted that General Atlantic’s investments range between $50 million and $400 million. As of June 30, 2016, the firm had $20 billion in assets under management.
De Castries – who started his career in the French Finance Ministry Inspection Office in 1980 – joined AXA in 1989 and worked there until his retirement in 2016. He was the chairman of the AXA management board from 2000; and chairman & chief executive from 2010.
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