Offices around the world
The world leader in secondary markets
Ardian pioneered the secondary market for fund investments. We use our unrivalled proprietary database to execute the largest and most complex transactions, buying portfolios of interests in private equity and infrastructure funds typically valued at $1bn-plus. We buy from institutional investors that are seeking to crystallize returns through early access to their capital or to manage their private equity exposure dynamically. Our ability to provide an exit for these investors has brought much-needed liquidity to private asset classes that have historically been considered illiquid.
Primary access to the most sought-after funds worldwide
We source and select primary commitments for our investors to the most attractive funds across regions and strategies. The best managers often have limited capacity in their funds. Gaining access requires established relationships and preferential positioning, both of which Ardian has built throughout its two decades of Secondaries & Primaries activities. Disciplined manager selection is also key: Ardian’s leading investment database allows the Secondaries & Primaries team to perform uniquely in-depth due diligence. Primary commitments are offered mainly through our Customized Solutions. Thanks to Ardian’s global reach, we are able to build both diversified and focused portfolios precisely matching the client’s needs.
Unique opportunities through early secondary deals
Ardian also has a dedicated strategy offering Early Secondary investments into less mature portfolios. This strategy purchases stakes in Private Equity portfolios that are between 15%-50% funded, offering a unique risk-return profile.
Reshaping the market in private assets
Ardian’s activity in the secondary market accounts for a significant proportion of the total transaction volume. We have invested in more than 1,600 underlying funds. Our presence allows large institutions to actively manage their exposure to private market assets – releasing money early for reinvestment, shifting their exposure between assets or regions, and rationalizing their portfolios to create fewer core relationships with third-party Private Equity managers.
Ardian Secondaries & Primaries has a team of professionals across Ardian’s offices, with major hubs in London and New York and a local presence throughout Europe, North America and Asia.
"Private Equity is no longer an illiquid asset class. Our leadership in the secondary market has helped change the way big institutional investors manage their entire private portfolios."
Executive President, Co-Head of Ardian US, Co-Head of Secondaries & Primaries, Co-Head of Ardian US and Member of the ASF Management Committee
Executive Vice-President, Co-Head of Secondaries & Primaries, Co-Head of Ardian US and Member of the ASF Management Committee
Executive Vice-President, Head of Ardian Germany and Asia, Head of Investor Relations, Deputy Co-Head of Secondaries & Primaries
Co-Head of Ardian Customized Solutions, Head of Ardian Switzerland & Senior Managing Director
Deputy Co-Head of Secondaries & Primaries, Senior Managing Director and Member of the ASF Management Committee
Portfolio Rationalisation – Project Ship II
Seller typeSeller typeUK Pension Fund
PortfolioPortfolio8 Buyout LP Interests
Direct Portfolio – Project Walter
Seller typeSeller typeU.S. Financial Institution
PortfolioPortfolio30 Direct Assets + 2 Buyout LP Interests
Complex Corporate Restructuring – Project Cruise
Seller typeSeller typeSovereign Wealth Fund
PortfolioPortfolio14 Buyout & Growth LP Interests and 14 Co-Investments
Sara Huang joined Ardian in 2010. Now at the helm of the Secondaries & Primaries team in Ardian's New York office, she brings her skills and...
Secondaries & Primaries Inside Ardian
Talent, Secondaries & Primaries Inside Ardian
Secondaries & Primaries, Talent Inside Ardian
New fund positions Ardian to respond to increased deal flow as the market recovers from the Covid-19 pandemic
Secondaries & Primaries Inside Ardian
Private Equity Wire Award
In March 2023, Ardian won a Private Equity Wire Award in the “Best Performance over $1.5bn: Secondary” category.
Private Equity International Awards 2022
In March 2023, Ardian won two awards at the Private Equity International Awards 2022: "Secondaries Firm of the Year In Europe"
Secondaries Deal of the Year Asia - Private Equity International
In March 2022, Ardian won first place in the Secondaries Deal of the Year in Asia, by Private Equity International.
Private Equity International Awards 2020
In March 2021, Ardian won the title Secondaries Firm of the Year in Europe at the Private Equity International Awards 2020.
Ardian 2022 Integrated Report
This year for the first time we are publishing an Integrated Report, which brings together in a single document the separate Activity and Sustainability Reports that we have produced up to now. Our aim in doing this is to give a more comprehensive and coherent understanding of how Ardian creates value for all our stakeholders.
Download the Report