Ardian raises €700m for first European real estate fund

Investors comprise pension funds, insurance companies, financial institutions and high-net-worth individuals across the world. In total, the fund has attracted nearly 50 investors from 11 countries.

The vehicle has an investment sweet spot between €50-150m and targets commercial property assets with a significant size, focusing on the main cities in Germany, France and Italy.

The fund has already deployed capital across four different investment opportunities in its core markets.

In December 2017, the firm acquired the Heinemann Bogen office complex in Munich from a fund managed by Corpus Sireo Real Estate, owned by Swiss Life Asset Managers. Prior to this, Ardian bought the Europa building in Levallois from media group Lagardère as a joint venture with LaSalle Investment Management, and it acquired six office buildings located in the Italian cities of Milan, Rome and Bari. In November 2016, the firm bought the Wappenhalle office premises and business park complex in Munich from real estate asset manager Publity.

Real estate is Ardian's fifth investment activity arm alongside funds-of-funds, direct investment, infrastructure and private debt. The firm manages assets of $66bn and employs 480 staff working from 13 offices.

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• Topics
• Funds
• France
• Real estate
• Ardian (formerly Axa PE)
• France