Ardian picks up $940m PE portfolio from USS

The transaction, which was funded through Ardian's fund-of-funds platform, marks one of the GP's largest purchases from a UK pension fund. Ardian has so far deployed around $26bn in secondary transactions.

The secondary deal highlights USS's continued strategy of increasing its direct investment activity. However, according to a statement, Geoffrey Geiger, head of private equity and USS Investment Management, asserted the prominent UK LP will continue to invest in "funds managed by GPs who share USS's values".

In October 2015, USS wholly acquired motorway service provider Moto and, two months later, sold a 40% stake of the company to CVC's Strategic Opportunities Platform, in a deal thought to be worth £1bn.

People
Ardian – Olivier Decannière (head of Ardian UK, member of the executive committee).
USS Investment Management – Geoffrey Geiger (head of private equity).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Secondaries
• UK / Ireland
• Ardian (formerly Axa PE)
• USS