Ardian agrees to buy $1.3bn GE Capital private equity portfolio


dollars_170sqFrench private equity investor Ardian is set to buy a $1.3bn private equity portfolio from GE Capital.

Evercore’s new secondaries group was mandated to sell the interests earlier this year.

The portfolio is mostly interest in US buyout funds according to a statement from the companies.

The deal comes just days after Ardian secured $10bn for its largest ever fund of funds vehicle.

The new fund is larger than Ardians fifth fund of funds, which was closed with commitment of $8bn in 2012 when the firm was known as Axa Private Equity.

The fund was backed by institutional investors from North America, Europe, the Middle-East and Asia, primarily pension funds, government agencies, and family offices.

Ardian noted that it has committed more than $2bn across three secondary deals so far this year and deployed $4.3bn across 21 secondary deals between September 2012 and the end of 2013.

It added that it believe “there will continue to be unprecedented opportunities for high quality secondary deal flow.”

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