A former investment executive from Citigroup’s infrastructure team has joined AXA Private Equity, marking the latest departure from the Wall Street bank amid a wider wind down of its alternatives unit.

Juan Angoitia has joined AXA Private Equity's infrastructure team in Paris as a managing director, according to a statement. Angoitia joins from Citi Infrastructure Investors, where he spent five years as an investment principal based in London. He managed a number of high profile investments at CII, including Spanish toll road concession Itinere Infraestructuras and UK water utility Kelda.