European fund manager Ardian has signed an agreement with UniCredit bank for the acquisition of a €300m portfolio of limited partnerships in European infrastructure private equity funds.
The transaction is expected to be closed by Q3 17, and is subject to the approval and conditions of the fund manager.
The deal represents one of the largest secondary infrastructure transactions in 2017.
The agreement reached also strengthens Ardian’s secondary funds strategy, which aims to offer liquidity to large institutions looking to rebalance their portfolios as well as monetising their private equity investments.
Mark Benedetti, managing director and co-head of Ardian US, said: “ Our team, spread out across the globe, is able to access a vast amount of information via a database of 1,400 funds and 10,000 underlying companies, which gives us excellent perspective on pricing and quality, allowing us to be opportunistic on behalf of our investors.”
In 2016, the Ardian FoF team has achieved some $4.8bn of transactions in early secondary and secondary infrastructure worldwide.