French PE firm Ardian’s newest fund of funds attracts $14 billion

Ardian, the independent private investment company, has reinforced its global market-leading position in Funds of Funds by announcing its latest cycle of fundraising has attracted investment of US$14bn. The US$14bn is comprised of  US$10.8bn  from  Ardian’s  seventh  generation  secondary  platform  and  US$3.2bn  of primary investments.

This comes less than two years after Ardian raised US$10bn through its previous round of fundraising. Ardian has now raised US$27.4bn for secondary investment in under five years.

This  latest  round  of  fundraising  confirms  Ardian  as  a  global  leader  in  Funds  of  Funds, attracting  major institutional  investors  from North America,  Europe, the Middle East, Asia and  South  America.  In  total,  this  amounts  to  180  investors  from  26  different  countries. Around 25% of the fund has already been invested through six transactions.

Ardian has been a leading player in the evolving secondary market, and secondary funds now offer similar liquidity levels to that provided by other asset classes. As a result, the secondary market is attracting different types of sellers, and banks and insurance companies no  longer  dominate.  They  are  now  being  joined  by  new  types  of  sellers,  who  include sovereign wealth funds and pension trustees. Many sellers use the secondaries market as a tool to manage their private equity portfolios in a more proactive way.

Vincent Gombault,  Member of the Executive  Committee  and Head of Funds of Funds at Ardian, said: “To raise this amount of money in so short a time since our last fund clearly demonstrates not only the strength of our fundraising capability, but also the trust and quality returns we offer our investors around the world.”

Benoît Verbrugghe, Member of the Executive Committee Head of Ardian US, added: “We have enjoyed considerable success in our fundraising efforts over the past five years. Our scale means that we are able to partner with a broad spectrum of institutions and investors on  secondary  deals  –  from  banks  seeking  liquidity  in  response  to  increased  capital requirements to pension funds looking to rebalance private equity holdings.”

Olivier Decannière,  Member of the Executive Committee  and Head of Ardian UK, added: “We can now say that the secondary market has come of age. Private equity has historically been  a  non-liquid  asset  class.  Our  latest  fundraise  confirms  the  emergence  of  a  liquid secondary  market which has the potential  to transform  the character  of this asset class. Ardian Funds of Funds is at the forefront of that.”

ABOUT ARDIAN

Ardian,  founded  in  1996  and  led  by  Dominique  Senequier,  is  an  independent  private investment company with assets of US$55bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fueling growth in  economies  across  the  world.  Ardian’s  investment  process  embodies  three  values: excellence, loyalty and entrepreneurship.

Ardian  maintains  a truly global network,  with more than 410 employees  working  through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing,  Singapore,  Jersey  and  Luxembourg.  The  company  offers  its  470  investors  a diversified choice of funds covering the full range of asset classes through Ardian Funds of Funds (comprising primary, early secondary and secondary activities), Ardian Private Debt, Ardian Direct Funds (comprising Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth and  Ardian  Co-Investment),  Ardian  Infrastructure,  Ardian  Real  Estate  and  customized mandate investment solutions with Ardian Mandates.

www.ardian.com

 

Source: Ardian Press Release

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