AXA Private Equity has reportedly bought a US$1.9bn portfolio of private equity funds from Bank of America. Terms of the deal were not diclosed. The transaction, involving about 60 funds, would be the biggest ever on the secondary private equity market, the report stated. The deal follows AXA Private Equity's recent purchase of French bank Natixis's domestic private equity operations valued at around US$718mn. AXA Private Equity currently has US$25bn assets under management.