Bank of America has sold a portfolio of private equity fund investments to AXA Private Equity for $1.9 billion. The portfolio primarily consists of high quality buyout funds, over half of which are mature funds. This is AXA's second large secondary transaction this week; it earlier completed a deal to acquire Natixis' PE holdings for $718 million. AXA is currently raising its fifth secondary fund. Its previous secondary fund closed in 2007 with EUR2.9 billion.