Ardian has raised $5.25bn (€4.4bn) for its latest infrastructure secondaries fund, demonstrating a strong investor appetite in the secondary market.
The manager said the Ardian Secondary Fund (ASF) VIII Infrastructure fund reached its hard cap within nine months as it received capital commitments from backers including major pension funds, insurance companies, high net worth individuals and financial institutions.
ASF VIII Infrastructure, which was significantly oversubscribed, attracted over 145 investors from 28 countries across the Americas, Europe, Asia, and the Middle East.
The amount raised is a three-fold increase on the amount raised for the predecessor fund in 2017.
ASF VIII Infrastructure will focus on ”high-quality infrastructure funds” and assets, managed by ”blue-chip general partners” in North America and Europe. It will target a diverse range of assets, from renewable energy and telecoms to transport and utilities.
Ardian said the fund is already 30% committed in two infrastructure secondary transactions, including one of the largest secondary infrastructure transactions ever completed, a diversified portfolio of over 30 infrastructure funds and co-investments purchased from a financial institution.
To read the latest edition of the latest IPE Real Assets magazine click here.