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Ardian’s new secondaries fund attracts $10bn to date

Multistratgey asset manager Ardian’s latest secondary fund has attracted capital commitments of around $10 billion so far, according to a report by The Wall Street Journal.

The report cites unnamed sources as confirming that the fund, Ardian Secondaries Fund IX, which will focus on acquiring secondhand stakes in private equity funds, is planning to hold a first close in early October of this year and has a target size of $15 billion.

The total amassed so far is reported to include significant co-investment capital which will be invested alongside the Ardian fund.

The Ardian Secondaries team closed a total of 27 transactions in 2021, representing $17 billion in deal volume. The average deal size for the top 10 transactions was $1 billion. The business has increased its AUM by $8 billion to $63 billion over the past 12 months and also grew its headcount to over 110, an increase of 22%.

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