Ardian has raised €6.1bn for its latest European infrastructure fund, exceeding its initial fundraising target by more than 50%.
Earlier this year, IPE Real Assets reported that the private investment manager had increased Ardian Infrastructure Fund V’s €4bn fundraising target to €5.5bn, more than double the €2.65bn raised for its predecessor fund.
Ardian said, in less than six months of fundraising, Fund V attracted capital commitment from 125 investors from Europe, North America, Asia and the Middle East, comprising major pension funds, insurance companies, financial institutions, high-net-worth individuals and sovereign wealth funds.
As previously reported, the Employees Retirement System of Texas made a €100m commitment to the fund.
Former investors “massively re-upped their commitments”, while 30% are new to Ardian, the manager said.
The fund will target transport, energy and other public infrastructure assets.
Dominique Senequier, Ardian president, said: “Raising a fund of more than double the size of its predecessor in less than six months bears testament to the quality of the infrastructure team and the regard with which they are held in the market.
“It underlines Ardian’s focused investment strategy, its asset management capabilities and strong relationships with investors.”
Mathias Burghardt, member of the executive committee and head of Ardian Infrastructure said: “This fundraise is a proxy for interest from institutional investors to an attractive asset class and a marker of the strong performance of previous generations of Ardian Infrastructure funds.
“We would like to thank our loyal clients, new international investors and previous generations for their role in this record €6.1bn fund.”
Burghardt said the fund will invest in infrastructure assets that are ”essential for communities”, particularly in the transport and energy sectors, ”delivering long-term value through our disciplined industrial approach”.