Private equity investment company Ardian has raised more than €700 mln for its first real estate European fund.
'This is a significant achievement for Ardian Real Estate, and indeed for the company more broadly,' said Dominique Senequier, president of Paris-based Ardian.
Ardian's investors comprise pension funds, insurance companies, financial institutions, and high net worth individuals. In total, the Ardian Real Estate European Fund attracted nearly 50 investors from 11 different countries.
'Ardian has already established itself as a leading player in the global investment industry. Now, this fund confirms our position as one of the key players within real estate. Ardian Real Estate, which is Ardian’s fifth investment pillar, was always a natural progression for us, and this fund signifies the growing strength and variety of our offering to investors,' Senequier added.
Ardian’s other investment activity includes fund of funds, direct investment, infrastructure and private debt.
The fund targets commercial property investments in the €50 to €150 mln range across the core-plus / value-added segment and seeks to significantly enhance rental income through active asset management. It focuses on the main cities of the three largest economies in the Eurozone (Germany, France and Italy), where Ardian already has a background in direct private investment.
Acquisitions executed to date include the Wappenhalle (Konrad) office premises and business park complex in Munich (pictured), acquired from real estate asset manager publity AG in November 2016.
In 2017, it added six office buildings located in Milan, Rome and Bari, bought from real estate fund, Cloé; the ‘Europa’ building in Levallois, West of Paris, acquired from media group Lagardère; and the Heinemann Bogen office complex in Munich’s Neuperlach district, acquired from a fund managed by Corpus Sireo.
'This fund is a milestone moment for Ardian Real Estate. The positive reception and strong support for this fund among both existing and new investors shows the appetite for this asset class,' said Bertrand Julien-Laferrière, head of Ardian Real Estate.
'We have already been able to deploy capital across nine assets that perfectly fit our strategy, highlighting the attractive investment opportunities that exist on the market and we’ll announce significant new transactions in the coming months,' Julien-Laferrière concluded.
