Ardian to launch new primary fund

Ardian Primary Fund VIII has been registered less than a year after the GP's $14bn final close of Ardian Secondary Fund VII, and just four months after the final close of its LBO VI fund, which raised €4bn.

It also closed a smaller fund, the Ardian Expansion Fund IV, in January 2016 on €1bn. The new fund will be focused on the primary market, according to the filed documents.

As with Ardian Primary Fund VII, Fund VIII will continue the GP's fund-of-funds strategy.

The vehicle will add to Ardian's primary fund investment capacity, which was supplemented by the $14bn secondary fund raised in 2016; $10.8bn was put towards secondary investments and $3.2bn towards primaries. Investments were focused within Europe and across a wide range of sectors. 

Secondary Fund VII beat its target, as did Ardian's Secondary Fund VI, which raised $6bn against a $4bn target. There are 180 investors in Fund VII from North America, Europe, the Middle East and South America, comprising mostly pension funds and insurance companies. North American and European LPs made up 75% of commitments.

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