Private investment house Ardian has raised EUR3 billion from investors for its fourth generation private debt platform to provide financing to mid-market companies across Europe. Established in 2005, the Ardian Private Debt team now has USD7 billion in assets under management with over 120 deals completed since inception.
The latest platform, which closed above its EUR2.5 billion target, builds on the success of Ardian’s third generation platform, which raised EUR2 billion in 2015, and will continue to provide flexible and tailor-made financing to companies across Europe. The platform’s offering has been broadened to include stretched senior debt to capture more of the buyout market and compete more effectively against bank lenders.
The platform attracted over 90 investors from 15 different countries, across Europe, Asia, and North America. Investors include major insurance companies, pension funds, banks, endowments, and foundations and government agencies. There was particular growth among Asian and North American investors, reflecting Ardian’s strong global reach and diversified client base.
Vincent Gombault, Member of the Executive Committee and Global Head of Fund of Funds and Private Debt, says: “With a strong 15-year track record in the market with four generations of funds, Ardian has firmly cemented its position as a leading debt financer to European mid-market companies. The successful fundraise is testament to our experienced investment advisory team, Ardian’s excellent asset management capabilities and strong global relationships. As a longstanding player in the private debt space, active through credit cycles, Ardian is well placed to take advantage of private debt’s increasingly important role in global finance.”
Mark Brenke, Head of Ardian Private Debt and Managing Director, dds: “This fundraise demonstrates the momentum of Ardian Private Debt and the increasing attraction of the asset class as demand for financing from dynamic, middle-market European companies grows. Building on Ardian’s strong track record, the platform’s expanded offering provides greater opportunities to venture more and more into territory that used to belong exclusively to the banks.”
Ardian Private Debt has deployed more than EUR1 billion each year during the past couple of years, benefiting from a growing team and diversified geographical deal flow. The number of opportunities sourced and reviewed in depth per year has increased significantly over the past years, whilst the team has become even more selective in order to focus solely on the highest quality opportunities.
