The fund has attracted more than 50 international investors looking for exposure to a well-diversified portfolio of assets across the world, covering many sectors through both large- and mid-cap businesses, alongside a wide group of lead investors. The team will continue its strategy of taking minority positions in private equity deals across the world, with the possibility of being more active through board representation for some transactions, notably in Europe.
Ardian’s fourth generation co-investment fund is significantly larger than the previous generation, which raised €730 million in 2007. The fund is split between two pools, covering dollars and euros, so that investors are able to choose their exposure to the US and European markets. This structure has encouraged a diverse global investor base, including insurance companies and pensions funds, as well as more than 30 family offices. Notably, more than half of investors in the fund are investors new to Ardian.
Dominique Gaillard, Member of the Executive Committee, Head of Direct Funds at Ardian, said: “This major achievement is a testimony of the quality of our performance. This is further reflected in the large number of investors new to the fund and to Ardian.”
Alexandre Motte, Head of Co-Investment at Ardian, added: “The high number of family offices investing in this fund confirms the growing demand for co-investment. Our investors value the direct exposure to private companies all over the world in various sectors alongside high-quality majority shareholders. As in our previous generations, we will continue our strategy of leveraging Ardian’s network, as well as its strong presence in the US.”
The fund is already one-third invested through 11 investments which included in 2015:
- CMG, a provider of primary care physician services in Florida;
- ICCNexergy, the largest independent manufacturer of rechargeable power systems in the US;
- Air Medical Group, a leading provider of air medical services in the US;
- SIG, one of the world’s leading manufacturers of aseptic carton packaging based in Europe;
- PetSmart, the leading retailer of pet products and services in North America.
Ardian began its Co-Investment activity in 2005. Since then, the firm has invested in more than 50 companies. The Co-Investment team consists of 11 people and operates on a global scale, which allows it to capitalize on a sustained and high-quality deal flow. The team also operates a selective investment policy and focuses on opportunities where only a small number of co-investors are involved.
Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$50bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.
Ardian maintains a truly global network, with more than 380 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 433 investors a diversified choice of funds covering the full range of asset classes through Ardian Funds of Funds (comprising primary, early secondary and secondary activities), Ardian Private Debt, Ardian Direct funds (comprising Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.