Ardian amasses $2.5bn for fifth co-investment fund


Paris-based buyout house Ardian has raised $2.5bn of commitments for its latest co-investment vehicle.

Ardian Co-Investment Fund V secured commitments from 194 LPs from across Europe the US and Asia. Of the fund’s total LPs, 153 were new first-time investors in Ardian’s co-investment strategy and 92 were new investors to Ardian’s funds.

This latest fundraise has pulled in more than twice the $1.2bn raised for Ardian’s fourth co-investment fund in 2015.

Through the fund, Ardian is partnering with other fund managers to target minority investments across a range of sectors and geographies.

The firm has already deployed around 30 per cent of the fund in 20 deals, including co-investments in aviation industry manufacturer Alvest, and fiber infrastructure provider Zayo.

“We are witnessing a major shift in appetite for co-investment,” said Ardian head of co-investment Alexandre Motte and senior advisor Patrick Kocsi in a statement. “A significant number of investors in this fund are completely new to this kind of investment activity.

“While this reflects our strong track record, it also underlines the increased attraction of co-investment during times of economic and political uncertainty.

“The combination of our investment expertise and unparalleled access to deals means we are exceptionally placed to provide investors with the kind of diversification and returns they are seeking.”

Ardian manages or advises $96bn worth of assets located across Europe, the Americas and Asia.

The European private investment major closed its latest mid-cap fund, Ardian LBO Fund VI, on €4.5bn in 2016.

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