United States introduces Ardian Investment Fund
Ardian, a global private investment firm with $180bn in assets under management, has launched Ardian Access, an investment vehicle designed to provide professional and accredited investors—especially in the US—with flexible and diversified exposure to private equity markets worldwide.
The fund, structured as an evergreen Luxembourg-domiciled fund called Ardian Access SICAV-RAIF, offers investors access to Ardian’s wide-ranging private equity assets. This includes secondary market investments, primary fund investments, and direct co-investments across different sectors, geographies, and company sizes.
Ardian’s extensive experience in managing nearly $110 billion in assets via its secondaries, primaries, and co-investment platforms is leveraged through Ardian Access. For instance, Ardian’s secondaries team has completed over $40 billion in secondary transactions in the past four years, and its co-investment team has invested alongside sponsors in more than 140 portfolio companies.
The fund aims to provide investors with diversified private market opportunities while mitigating risks such as the J-Curve effect typically associated with private equity investments. By offering access to secondary sales of limited partner stakes and co-investments in select companies, Ardian Access allows US accredited investors to participate in private equity deals that might otherwise be difficult to access directly.
Michael Bane, Head of Americas Investors Relations and Senior Managing Director at Ardian, stated that creating Ardian Access was necessary and logical. He explained that the move represents a key milestone in Ardian's continued growth into the private wealth market, which was formerly controlled by institutional capital and ultra-high-net-worth individuals.
Ardian Access will be an evergreen fund, allowing for ongoing inflows and prompt capital deployment. The fund is incorporated under the Investment Company Act of 1940. It aims to appeal to a broader variety of accredited investors with a minimum investment of $25,000.
Following the US debut, Ardian will launch Ardian Access SICAV-RAIF, a Luxembourg-based evergreen fund with a similar investment strategy, to accommodate growing global demand. Ardian's proprietary database includes over 650 GP's, 1,600 funds, and 10,000 portfolio firms, as well as insights from over 125 private markets specialists operating in 20 global offices.
The offering is still subject to regulatory approvals and consultations with relevant employee representative bodies. Ardian has already tested this approach in Europe, having successfully launched Ardian Access FCPR in France. This move represents a significant step in Ardian's mission to democratise access to private equity markets, providing professional and accredited investors with the opportunity to benefit from Ardian's expertise and track record in the private equity space.
References: [1] Ardian. (n.d.). Ardian Access. Retrieved from https://www.ardian.com/en/our-firm/news/2022/ardian-announces-ardian-access-a-new-fund-for-us-accredited-investors-to-gain-access-to-private-equity-markets-worldwide
[2] Private Equity International. (2022, February 2). Ardian launches Ardian Access for US accredited investors. Retrieved from https://www.peimedia.com/2022/02/02/ardian-launches-ardian-access-for-us-accredited-investors/
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