Ardian has raised $2.1bn (€2bn) for its latest Americas infrastructure fund, to target telecommunications, transportation and energy-transition sector assets.
The manager said the capital raised for Ardian Americas Infrastructure Fund V (AAIF V) exceeded the fund’s $2bn hard cap and was larger than the inaugural AAIF IV fund which raised $800m in 2018.
Ardian said AAIF V attracted over 60 investors from 17 countries across the Americas, Europe, the Middle East and Asia, comprising major pension funds, insurance companies, sovereign wealth funds, fund of funds, endowments and high-net-worth investors. The fund also attracted returning and new investors.
As previously reported, Indiana Public Retirement System made a $150m commitment to the fund. Public Employees Retirement Association of New Mexico also disclosed it was investing up to $75m directly into the fund and was putting $25m into a co-investment vehicle that could invest alongside the AAIF IV or AAIF V funds.
Last year, the Employees Retirement System of Texas also approved an $80m commitment to the fund.
AAIF V will invest in “high-quality, mid-market US and other OECD American essential infrastructure assets” in the telecommunications, transportation, and energy transition sectors, Ardian said, adding that the fund had so far deployed over 15% of its capital in a deal to buy Unison, a buyer and manager of telecom site properties in the US.
Mathias Burghardt, member of the executive committee and head of Ardian Infrastructure, said: “We are thankful for the support of our new and existing investors. The success of our latest fundraise clearly demonstrates their continued trust in our approach. We will continue to prioritise long-term value creation through our disciplined industrial approach.”
Stefano Mion, co-head of Ardian Infrastructure Americas, said: “Closing a fund that is more than 2.5 times larger than its predecessor is an important achievement for the team and validation of our investment strategy in the Americas.
“The amount recommitted by our existing investors is further testament to the strong performance of the previous generation.”
Mark Voccola, co-head of Ardian Infrastructure Americas, said: “The market opportunity for high-quality, mid-market infrastructure assets is compelling, and even more so with the powerful tailwinds from the Inflation Reduction Act.
“Our ability to leverage Ardian’s strong proprietary deal flow along with our industrial approach positions us exceptionally well in the current environment.”
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