Ardian Raises $14B for Dual PE Secondaries/Buyout Effort

Apr 19 2016 | 10:06pm ET

Private equity secondaries specialist Ardian has raised a total of $14 billion for its latest fund, $10.8 billion for the company’s seventh-generation secondary fund and $3.2 billion for primary investments.

The raise comes less than two years after Ardian raised $10 billion for its previous fund vehicle, according to the company. Illustrating the institutional interest in PE secondaries, the new commitments bring the total raised by Ardian for secondary investments to $27.4 billion in under five years.

The latest effort attracted a total of 180 investors from 26 nations, Ardian said. Spun out of AXA Investment Managers in 2013, the company has become a leading player in the secondary market and one of the few capable of buying large portfolio positions from PE investors. 

“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,” said Vincent Gombault, head of funds of funds at Ardian, in a statement. 

“We can now say that the secondary market has come of age,” added Olivier Decannière, head of Ardian UK. “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. 

Founded in 1996 and led by AXA Private Equity founder Dominique Senequier, Paris-based Ardian has $55 billion in assets either managed or advised on behalf of some 470 investors across a wide range of strategies including funds of funds, private debt, buyout funds, infrastructure, real estate and customized mandates.

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