Careers as women: networking, a strategic investment in Private Equity

In private equity, March 8 — International Women’s Rights Day — is not merely symbolic. It serves as a reminder that gender parity remains a structural challenge for the sector. According to the Level20 European Gender Diversity Report, women represented less than a quarter of European investment professionals in 2024. With a score of 30%, France stands out more favorably, as evidenced by the July 2025 Gender Parity in Private Equity study conducted by Deloitte and France Invest, which also highlights steady progress at all levels since 2021. Despite this momentum, industry projections suggest that it will still take several decades to reach parity at the most senior levels. 

Gender parity and performance: a link now clearly established

This imbalance is no longer ignored. As early as 2020, a study* conducted by HEC Paris and MVision Private Equity Advisors showed a 12% return differential between investment teams that included at least one female decision-maker and those composed exclusively of men, as well as more balanced risk management.

Beyond equal opportunity, gender parity has therefore become a matter of effectiveness. Its implementation, however, remains hindered by the legacy of a sector long dominated by men’s careers and highly standardized trajectories. 
“Private equity is relatively structured: you start as an Analyst, then Associate, then VP, or Director, Managing Director, and ideally Partner,” observes Sara Huang, Managing Director at Ardian in New York and Co-Chair of Ardian Women. This well-established model often clashes with reality: to reach the top, technical skills alone are not enough. Early access to information, understanding internal dynamics, or working on high priority projects often depends on one’s network. Far more than a simple social tool, networking actively shapes career paths. 

From financial capital to relational capital

To help women in private equity take ownership of this strategic asset — “relational capital” — Ardian launched Ardian Women in 2018, an internal network dedicated to supporting the development of women’s careers. Designed as a structured tool rather than an informal circle, it is built around three pillars: network, empower, inspire.

The first pillar — network — lies at the heart of the initiative. The goal is to create regular, cross-functional, and international networking spaces in order to increase the visibility of female talent.

“The idea is to support women throughout their entire career journey,” explains Anaïs Robin, Senior Investment Manager in Ardian’s Buyout team in Paris, who co-chairs Ardian Women alongside Sara Huang. 

Inter-office events, transatlantic initiatives, and a network of internal ambassadors: networking is conceived both as a strategic lever fully integrated into talent development and as a mechanism for opening doors to diverse career paths, international perspectives, and different leadership styles. This philosophy resonates strongly with the aspirations of younger women in the sector, according to Anaïs Robin: 
“They want greater visibility on career progression and want to meet different role models they can identify with, depending on their profile.”

While networking increases exposure and visibility, mentoring provides a more personalized support. In certain Ardian offices, particularly in New York, programs offer one-to-one support to help women understand the sector’s unwritten rules and prepare for the next stages of their careers. 

Raising awareness from the education stage

Strengthening the presence of women in private equity also requires making the sector more visible and attractive to younger generations. Ardian and Ardian Women therefore run numerous initiatives aimed at female students, such as the Generation Women or Women in Investment programs. These events provide opportunities to discover private equity careers, engage with professionals, and establish early connections with the industry.

This approach is supported by academic research conducted within the Women in Finance Chair, launched in partnership with ESCP Business School in 2023. One of the Chair’s key findings shows that female students are significantly more likely to choose finance as a specialization when they are exposed to the sector early in their academic journey. This insight reinforces Ardian’s conviction that awareness-building initiatives at the education stage are a critical lever for broadening the female talent pipeline.

Beyond flagship programs, Ardian is also actively involved in a wide range of university relations initiatives, including participation in student forums, campus events, and networking cocktails. The objective is clear: to diversify the pool of candidates, increase the number of women applying to Ardian, and demystify a sector that is still often perceived as closed or inaccessible.

By helping to shape perceptions and build relational capital early on, these initiatives lay the foundations for more diverse career pathways into private equity. This is the goal of Ardian’s broader Inclusion & Diversity strategy, which places gender parity at the heart of long-term talent development and leadership succession. 

A momentum driven from the very top

Since September 2025, Ardian Women has been co-led by Anaïs Robin (Paris) and Sara Huang (New York), strengthening the network’s international dimension. 
“Choosing a co-chair model reflects a desire to better coordinate actions across geographies and to amplify our voice within the firm,” says Anaïs Robin. 
“It is about ensuring that smaller offices can benefit from the same programs as larger ones. Networking must also function beyond time zones,” adds Sara Huang.

Supported at the highest level — notably by Dominique Senequier, CEO & Founder of Ardian, a leading female figure in finance, who regularly hosts roundtables with employees at all levels — Ardian Women demonstrates that diversity is not just rhetoric, but a strategic priority.

One key question remains, raised by Sara Huang: 

In other words, women’s networking can only become truly transformative if it is embedded in the company’s culture. Positive change occurs when men act as allies — listening, learning, and ensuring that their female colleagues are heard and respected. This alliance is essential to dismantle barriers inherited from the past and to create a virtuous cycle. The result is not only a more inclusive workplace, but also a more dynamic and higher performing one for everyone. 

In 2025, the measures implemented at Ardian delivered tangible results: 

*Study conducted by HEC Paris and MVision Private Equity Advisors, covering more than 2,450 transactions over a twenty year period.