Multistrategy asset manager Ardian has corralled roughly $10bn of investor interest so far for its latest vehicle to buy secondhand stakes in private-equity funds and plans a first close for the pool in early October, according to people familiar with the matter.
The Paris-based firm has a target of $15bn for its Ardian Secondaries Fund IX and the final tally could be higher, the people said. The total amassed by the campaign includes significant co-investment capital to be invested alongside the Ardian fund.
Ardian Secondaries is the world’s largest Fund of Funds platform. The successful fundraise follows a record year for Ardian’s Secondaries team in 2021, closing 27 transactions which represent $17 billion in deal volume. The average deal size for the top 10 transactions was $1 billion.
Over the past 12 months, Ardian’s Secondaries business increased its AUM by $8 billion to $63 billion. The team’s headcount also grew by 22% in 2021, now comprising more than 110 investment professionals.
Read more: Private Equity Insights
