Ardian Closes Record $30B Fund for Private Equity Secondaries
- Editor
- Jan 17
- 2 min read
What's Happening
French alternative asset manager Ardian has raised a $30 billion fund focused on buying stakes in aging private equity funds, according to a Financial Times report. The fundraising, which began in 2022, surpassed their previous secondaries fund by $11 billion.
Why It Matters
Market Signal: The successful raise indicates strong demand for secondary market transactions as private equity firms struggle with traditional exits
Liquidity Solution: Provides an alternative exit path for investors who need to rebalance portfolios or free up capital
Industry Shift: Represents growing institutionalization of the secondaries market as a crucial component of private equity ecosystem
The Key Moves
Deployment Progress: Fund has already invested half its capital across 17 transactions, averaging $2 billion each
Strategic Expansion: Ardian signals openness to acquisitions in US large-cap buyout, private debt, and real estate sectors
Market Timing: Launch coincides with increased deal flow as political uncertainty around US election diminishes
By The Numbers
Fund Size: $30 billion, representing largest secondaries fund ever raised
Market Potential: Estimated $150 billion in secondary transactions expected for 2024
Asset Base: Ardian manages $176 billion in total assets under management or advice
Key Players
Vladimir Colas: Executive Vice-President at Ardian, highlighting increased first-time sellers in the market
Mark Benedetti: Executive President, focusing on strategic expansion and market opportunities
Dominique Senequier: Founder of Ardian, overseeing firm's evolution
Key Quotes
Market Dynamics: "Liquidity having been slower for LPs, that brought a lot of first-time sellers to the market" - Vladimir Colas
Deal Flow: "We're on our second deal with the same seller... and they're still over-allocated after the second sale" - Mark Benedetti
The Wrap
Ardian's record-breaking fund represents a pivotal moment in private equity's evolution, as secondary markets become increasingly critical for portfolio management and liquidity. The size and timing of the raise positions Ardian as a dominant player in an expanding market segment.
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