Private investment company Ardian has closed its Expansion Fund III at EUR450m, with EUR50m in co-investments.
The new fund represents a 41 per cent increase in size from Fund II (EUR353m) and comprises investors from Europe, North America and Asia.
European insurance companies and pension funds make up the majority of the fund’s investor base and almost 80 per cent of the commitments come from existing investors.
Ardian’s 16-strong Expansion team now has significant capital for investment in French, Italian and German SMEs. The team focuses on growth capital and buyout transactions through majority or minority investments in companies valued up to EUR500m, depending on the holding acquired.
Some 23 per cent of the new fund has already been committed through four investments in Europe:
· Frostkrone, a German producer of frozen snacks
· The CLS Group, a French provider of environmental data collection and location services
· Synerlab, one of the leading European pharmaceutical manufacturing firms
· Micropross, a global leader in smart card testing and communication tools
Dominique Gaillard, managing partner direct funds at Ardian, says: “Our investment platform is based on three key European markets: France, Italy and German-speaking countries. This focus gives us a major advantage for future investments. This third generation fund will allow us to continue to support the growth ambitions of European companies, primarily focusing our expertise and resources on supporting their global expansion plans. It is great to see significant reinvestment from existing investors, but it is equally pleasing to welcome new investors to the fund. We will continue to invest with the same investment discipline.”
