Ardian invests in 10 secondaries deals in 2014

Ardian invested $10.8bn in 10 private equity secondaries deals and co-investments in 2014.

Ardian invested more than $10.8 billion in 10 private equity secondaries deals and co-investments last year, according to a statement from the firm.

More than $7.5 billion of the capital deployed came from the firm’s most recent fund of funds platform, which raised $10 billion in April 2014. Roughly $9 billion for the platform was collected through Ardian Secondary Fund VI and the remaining capital was raised for primary fund of funds investments.

Olivier Decannière
Olivier Decannière

“The size of our fund is a huge advantage in enabling us to propose global solutions to the sellers in a short period of time,” said Olivier Decannière, head of Ardian UK.

The most recent secondaries deal is a portfolio of 17 limited partner interests purchased from the Pennsylvania Public School Employees’ Retirement System. The $1.75 billion deal was announced Monday.

“While we have deployed $10 billion in 2014, we have been highly selective to get the right transactions with a strong focus on quality, directly sourced and limited competition assets,” Ardian head of funds of funds and private debt Vincent Gombault said in the statement.

Ardian’s six most recent transactions are:

Seller Size Portfolio
PSERS $1.75 billion 17 LP interests
Italian financial institution €696 million 32 LP interests and 8 co-investments
US pension fund $627 million 3 LP interests
US financial institution $804 million 30 direct assets
Sovereign wealth fund $2.38 billion 40 LP interests
US financial institution $510 million 2 infrastructure LP interests

Source: Ardian