Ardian raises €2bn for new fund in six months

Sep 16, 2020 | News | 0 comments

Paris-headquartered Ardian has reached a final close of its fifth small-cap fund at €2bn after just six months of fundraising, according to the firm. The fund, Expansion V, is double the size of its predecessor, which closed on €1bn in 2016. 

The new strategy aims to back high-growth mid-sized businesses across Europe, typically making investments from €30m to €200m in companies with enterprise values between €50m and €350m.

At the moment, the fund is 10% deployed, with two investments completed. In May, the firm acquired a majority stake in Swissbit, a manufacturer of data storage technologies and internet of things solutions, and in July, Finaxy, a French insurance broker.

Half of the commitments came from the previous small-cap fund’s investors, joined by new limited partners from Asia and the Middle East, as the firm expanded the fund’s geographic reach. The fund is also broadening its investor profile, welcoming for the first time sovereign wealth funds, alongside insurance companies, high net worth individuals and pension funds, Ardian said in a statement.

“We are honoured by the trust shown by our investors. Doubling the size of the previous generation in six months demonstrates the success of our strategy and the quality of our financial performance,” François Jerphagnon, head of Ardian Expansion, said. 

The Expansion strategy has made 60 investments in past and current portfolio companies, with businesses backed by the funds reporting more than 10% organic growth historically, according to the firm.

Ardian has $100bn of assets under management across five main strategies comprising funds of funds, direct funds, infrastructure, real estate and private debt. It has more than 690 employees working from 15 offices in Europe, the Americas and Asia.

Source: Private Equity News

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