Ardian picks up Cinven stakes from Altamar

The investment firm acquired stakes in Cinven's 2006-vintage flagship fund which holds UK financial advisor Just Group and German truck component maker JOST.

Altamar Capital Partners has transferred a portion of its holdings in Cinven‘s fourth flagship fund to Ardian, according to UK public filings.

The Madrid-headquartered firm divested around 45 percent of each of two stakes it held in the Fourth Cinven Fund, the first from Altamar Buyout Global II and the second from Altamar Buyout Global III.

The stakes were acquired by ASF Brighton, a vehicle registered by Ardian in July.

Altamar Buyout Global II is a 2007-vintage, €186.6 million fund of funds, according to PEI data. Its successor, which launched the same year, raised €233.4 million.

Investors in Fund III include Spanish bank Caja de Ahorros Municipal de Burgos, PEI data show.

The 2006-vintage Fourth Cinven fund raised €6.6 billion to invest in western European buyouts, exceeding its target by €1.6 billion. Investors in the fund include Adams Street Partners, Canada Pension Plan Investment Board and New York State Teachers’ Retirement System.

According to Cinven’s website, remaining assets in the fund include Just Group, a UK-headquartered financial advisor, and JOST, a German truck component manufacturer.

Altamar Capital Partners uses primary, secondaries, fund of funds and co-investment strategies. It has €3.5 billion in assets under management, according to PEI data.

Cinven and Ardian declined to comment. Altamar did not return a request for comment.