Ardian has raised $20bn for its flagship infrastructure platform, marking its largest-ever fundraise and one of the biggest infrastructure pools focused on Europe.

The platform includes $13.5bn from Ardian Infrastructure Fund VI, which hit its hard cap, and additional co-investments that bring the total to $20bn. The fund is nearly double the size of its predecessor, which closed at €6.1bn in 2019.

Ardian’s strategy focuses on core energy, transport, and digital infrastructure assets across Europe. The firm has already deployed over 40% of the new fund into high-profile projects, including London’s Heathrow Airport, where it is now the largest shareholder, as well as data centre platform Verne, renewable energy group Akuo, waste management firm Attero, and Irish utility Energia Group.

The fund attracted a diverse global investor base, with U.S. investors accounting for 14% of commitments and Asian investors 32%, including nearly $900m from Australia. The number of limited partners doubled compared to the prior fund, with existing investors increasing their commitments by around 40% on average.

“Our asset management approach is precise: value creation must come from operational improvement, not market cycles. In a market that rewards clarity and conviction, our approach has stood the test of time, and our strategy remains consistent, differentiated and rooted in a long-term view to create value,” said Mathias Burghardt, Executive Vice-President, CEO of Ardian France and Head of Infrastructure.     

Ardian now manages $192bn in total assets, with around one-fifth allocated to infrastructure. The firm recently partnered with Finint Infrastructure to acquire Milione SpA, the parent company of Venice’s Marco Polo Airport and other airports in northern Italy.

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