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Ardian closes biggest-ever fund of funds

23 Apr 2014

france french parisFrench private equity firm Ardian has 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.”

Ardian managing partner Vincent Gombault said, ““Since 1999 we have strived to build a detailed knowledge of the private equity market, the best managed funds and the portfolios that offer high potential in terms of value creation.

“Over the last 15 years, the exceptional track-record of all our funds has won the trust of our investors, based on two fundamentals: visibility and high returns.

“These are the fundamental reasons why we have managed to raise funds of this size in such a short period of time.”

Ardian’s recent deals include the exit from food ingredients maker Diana Group, which was sold to Symrise for €1.3bn.
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