Ardian raises €1 billion for Expansion Fund IV
New fund is twice the size of the previous generation and shows a significant increase in high net worth individuals committing to Europe’s growth
Ardian, the independent private investment company, today announces the successful closing of its Expansion Fund IV which reaches a size of €1 billion. This new fund is twice the value of Fund III (€500 million) and has been raised only two years later, confirming Ardian’s leading position in the European buyout market and growth capital.
As for the previous fund, Ardian’s 19-strong Expansion team will maintain its successful strategy, identifying investment opportunities in France, Germany, Italy, Belgium and Austria. The team will also begin to make inroads into the Spanish market, following the opening of Ardian’s Madrid office in 2015. With an initial investment capacity up to €100 million, the team will focus on growth capital and buyout transactions through majority and minority investments in companies valued up to €225 million.
Fund IV has attracted a diversified investor base mainly from across Europe and Canada; while insurance companies and pension funds still make up the majority of the fund’s commitments, the proportion of High Net Worth Individuals also doubled compared to the previous generation. In addition, several former CEOs of Ardian portfolio companies have participated in the fund, highlighting their trust in Ardian teams.
Over the last 16 months, Ardian Expansion team has taken advantage of a strong period for deal-flow, successfully making five acquisitions and five exits. At the same time it has also been supporting the growth of its various portfolio companies with the completion of 15 build-ups.
Dominique Gaillard, Member of the Executive Committee and Head of Direct Funds at Ardian, said: “This major fundraising proves the success of our multi-local strategy, which is to identify ambitious companies and help them expand even further beyond their domestic market and accelerate international growth. Coming only two years after the close of Fund III and double in size, Fund IV is a huge fundraising achievement and is testament to both the trust Ardian has in the market place and the increasing confidence of investors in European businesses supported by our team.”
Ardian’s Expansion expertise began in 2002 and, since then, has invested around €760 million in 43 different companies, supporting ambitious growth strategies and facilitating international development. Two thirds of these companies have completed build-ups following Ardian’s initial investment.
Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$55bn 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 430 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey and Luxembourg. The company offers its 490 investors a diversified choice of funds covering the full range of asset classes through Ardian Direct Funds (comprising Ardian Expansion, Ardian Mid Cap Buyout, Ardian Growth and Ardian Co-Investment, Ardian Infrastructure, Ardian Real Estate), Ardian Funds of Funds (comprising primary, early secondary and secondary activities), Ardian Private Debt, and customized mandate investment solutions with Ardian Mandates.