Ardian, one of Europe’s leading private investment houses, has postponed the fundraising launch for its next flagship buyout fund as it undertakes a major internal reshuffle, according to a report by Bloomberg citing sources familiar with the matter.
The Paris-headquartered firm had initially planned to hit the fundraising trail for Ardian Buyout Fund VIII in early 2025, but is now expected to approach LPs later this year. The delay comes as Ardian forms a new buyout management committee aimed at reinforcing investor confidence and strengthening succession planning across its platform.
The newly constituted committee – shared with investors earlier this year – will oversee future buyout strategies and is expected to drive the next generation of leadership. Members include buyout co-heads Thibault Basquin and Nicolò Saidelli, operating partner Helen Lee Bouygues, alongside regional strategy leads Emmanuel Miquel (France), Gonzalo Fernandez-Albinana (Spain & Portugal), Edward Little (UK), and Christopher Sand (US).
The shift marks a departure from Ardian’s strong fundraising momentum in 2021, when it secured €7.5bn, including co-investments, for Buyout Fund VII. That vehicle targets European businesses with enterprise values up to €2bn across sectors such as healthcare, tech, services, and the food value chain. A target size for Fund VIII has not yet been disclosed.
Sources indicate that the restructuring also seeks to distance the firm from its underperforming Buyout Fund VI, which has yet to generate carry. One portfolio company, Weber Automotive, filed for insolvency in 2019 amid operational challenges and governance disputes. The lack of carry from that vintage has reportedly contributed to a wave of senior departures in Ardian’s private equity unit, particularly in Milan and Paris.
Recent exits include Yann Chareton, former COO of Ardian’s buyout business, who joined Perwyn, and Marco Bellino, now with PAI Partners. Giacomo Forti is set to join Ambienta, while former buyout co-head Nicolas Darnaud has moved to Cobepa. Yann Bak is also departing, according to Bloomberg.
Despite these challenges, Ardian continues to see traction in other strategies. It raised €3.2bn for its mid-cap growth fund in January and closed $30bn for its global secondaries platform. The firm is also expanding its international footprint, opening a new office in Hong Kong to meet growing demand from Asian LPs, including family offices in China.
Ardian remains active with its current buyout vehicle, having deployed approximately 80% of Fund VII. Most recently, the firm entered exclusive talks with Ontario Teachers’ Pension Plan to acquire a significant stake in French insurance broker Diot-Siaci.
Ardian currently manages or advises on $177bn of assets across private equity, real assets, and credit, with over 1,700 institutional clients globally and a team of more than 1,000 professionals.
