Private investment firm Ardian has raised $20bn for its latest flagship infrastructure platform which will invest predominantly in Europe, making it the firm’s largest infrastructure platform to date, and 90% larger than the previous generation.
The platform comprises Ardian Infrastructure Fund VI (AIF VI), which reached its hard cap of $13.5bn (€11.5bn), as well as co-investments alongside the main fund.
The fund will continue Ardian’s strategy, developed over two decades, of combining an industrial approach with investment expertise across three verticals that are powering the future and supporting Europe’s competitiveness: energy, transport and digital infrastructure.
Despite a challenging fundraising environment which has seen infrastructure funds raise over longer periods of time than prior years, AIF VI was raised in two years, attracting strong interest from both existing and new investors across the globe, with commitments from 229 limited partners (LPs) in Europe, North America, APAC and the Middle East.
The fund saw the biggest increase in commitments from investors in the United States, with the number of investors more than doubling and accounting for 14% of capital raised, up from $1bn in AIF V. This comes amid growing US investor appetite for investing in Europe. Asian investors also showed strong interest, accounting for 32% of the capital raised, including many key Australian investors for the first time.
The number of investors in AIF VI doubled compared to AIF V. Investors having re-upped into AIF VI increased their commitments in average by circa 40%.
Ardian has $47bn in assets under management (AUM) for its infrastructure strategy covering the European and American essential infrastructure market as well as thematic funds related to the energy transition. The team counts 80 investment professionals who work with a strong network of operating partners.
AIF VI has already successfully deployed more than 40% of its capital, including in landmark infrastructure assets like London Heathrow Airport – Europe’s largest airport – where Ardian is the largest shareholder.
