Ardian Raises US$10 Billion, Most For P.E. Secondaries

Apr 24 2014 | 2:30pm ET

Private-equity firm Ardian said yesterday it had raised US$10 billion from investors, including US$9 billion for the industry’s largest ever fund of funds.

The sixth-generation fund will invest in the p.e. secondaries market, buying up stakes in funds from existing investors. It will use the remaining US$1 billion to make primary commitments.

Ardian, the former AXA Private Equity, last tapped investors in 2012, raising US$8 billion, including US$7.1 billion for a secondaries fund. The firm has US$47 billion in assets under management.

“We see a positive outlook for secondary deal flow in 2014 in the U.S., Europe and Asia, negating any suggestion that the market is losing its prominence within the wider spectrum of private equity,” Ardian’s U.S. chief, Benoît Verbrugghe, said. “A vibrant secondaries market is hugely important for the investment industry as it offers much needed liquidity.”

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