Ardian completed 11 secondaries transactions totalling $6.2 billion last year, according to the firm’s annual report released this week.
The firm also completed four early secondaries transactions.
“We invested very actively and although the majority of our transactions came in the second half of the year, we still completed more than $6 billion of transactions,” Vincent Gombault, head of Ardian fund of funds and private debt said in the report.
Secondaries Investor reported at the beginning of last year that the firm completed 10 deals totalling $10.8 billion in 2014.
Ardian, which raised its seventh secondaries platform last year, Ardian Secondary Fund VII, with $14 billion, believes the overall market last year was between $30 billion and $40 billion.
It anticipates that the secondaries market in private equity is poised for additional growth and that it will take years for it to reach its full potential, Ardian noted in its report. “Even if turnover expanded tenfold, it would still represent a relatively small percentage of the asset class overall – but there can be no doubt about the direction it is heading,” the firm said.
The firm increased its assets under management by more than 37 percent to $27 billion in 2015 from $19.6 billion in 2014, according to the report.
Here are secondaries transactions Ardian completed in 2015:
|Seller||Transaction||Deal size||Closing date|
|US pension fund||17 LP interest||$1.8bn||March|
|Australian financial institution||3 LP interests and 7 direct assets||$329m||April|
|Several limited partners||Tender offer for LP interests||$87m||September|
|European fund of funds||23 LP interests and 2 direct co-investment assets||€83m||September|
|Sovereign wealth fund||12 LP interests||$1.4bn||September|
|US financial institution||80 direct assets||$570m||September|
|Several limited partners||Tender offer for LP interests||$253m||November|
|US family office||2 LP interests||$36m||December|
|UK family office||16 LP interests||$259m||December|
|US financial institution||45 LP interests||$310m||December|
|Universities Superannuation Scheme||12 LP interests||$940m||December|