Ardian has closed its Expansion Fund IV after reaching a size of €1bn, which is twice the value of Fund III after two years of fund raising.
Fund IV has attracted a diversified investor base mainly from across Europe and Canada; while insurance companies and pension funds still make up the majority of the fund’s commitments, the proportion of HNWI also doubled compared to the previous generation.
In addition, several former CEOs of Ardian portfolio companies have participated in the fund.
With an initial investment capacity up to €100m, the fund’s team will focus on growth capital and buyout transactions through majority and minority investments in companies valued up to €225m.
The fund’s team will identify investment opportunities in France, Germany, Italy, Belgium and Austria. It will also begin to make inroads into the Spanish market, following the opening of Ardian’s Madrid office in 2015.
“This major fundraising proves the success of our multi-local strategy, which is to identify ambitious companies and help them expand even further beyond their domestic market and accelerate international growth,” said Dominique Gaillard, member of the executive committee and head of Direct Funds at Ardian.