PARIS: French buyout firm Ardian SAS has raised a 3.2 billion euros for its new mid-cap growth fund.
The fundraising for Ardian Expansion Fund VI was 10% above its initial target and 60% higher than its predecessor fund, according to a statement yesterday.
The new fund drew 200 limited partners from 28 countries, including almost 120 new investors. “LPs are still waiting on the sidelines – they are still very polarised.
“But what is positive is that the good funds can still generate interest, and that worked in our favour,” said Ardian France managing director and head of its expansion team Francois Jerphagnon.
Ardian’s fund closing comes as many investors opt for either large asset managers that offer a range of strategies, or specialist firms focused on niche strategies.
In July, Ardian agreed to acquire a majority stake in Diam, a provider of merchandising solutions for the beauty and luxury sector. — Bloomberg
