Aztec Group to administer record-breaking USD19bn secondaries fund
Independent fund and corporate services provider, the Aztec Group, has been selected by Ardian to administer its eighth-generation secondaries platform, ASF VIII, which Ardian says is the world’s largest.
Headquartered in Paris, Ardian is a global private investment firm with USD96 billion in AUM. The firm’s Fund of Funds platform, which covers both primary and secondary fund of funds, now has USD53 billion in AUM, with an exposure to more than 10,000 portfolio companies through 1,600 underlying funds.
The Fund attracted commitments from 275 investors in nearly 40 countries, including major pension funds, sovereign wealth funds, insurance companies, high net worth individuals and financial institutions. The Fund will offer necessary liquidity to investors against the backdrop of a major global recession, as they look to re-balance private equity portfolios and seek yield opportunities for savers.
Aztec Group has provided a range of administration, accounting and governance services to Ardian from its Jersey and Luxembourg offices since 2013, and now administers over USD46 billion across its secondaries fund of funds portfolio.
Specialising in alternative investments, the Aztec Group employs more than 950 people and administers over EUR370 billion of assets for more than 240 clients, including over EUR89 billion across various secondaries and fund of fund asset classes such as private equity and infrastructure.
Michelle McNaney, Co-Head of Private Equity in the Aztec Group’s Jersey office, says: “Congratulations to Ardian on a significant and extremely successful fundraise, reflecting the growth of the secondaries market and its attractiveness to investors looking for liquidity options. We’re delighted to have the opportunity to further apply our knowledge and experience of the secondaries market, working closely with one of the world’s leading investment managers.”