Investment Venture: Emergence of Evergreen Fund, Expanding Exclusive Market Opportunities to a Wider Investor Base, Led by Ardian
Ardian Launches Ardian Access SICAV-RAIF, Expanding Private Wealth Solutions
Ardian, a global private investment firm managing $180 billion in assets, has announced the launch of Ardian Access SICAV-RAIF, an evergreen investment vehicle designed to provide professional investors with differentiated and ongoing access to private assets. This new offering marks a significant step in opening deal flow to more investors, according to Erwan Paugam, Head of Private Wealth Solutions and Managing Director at Ardian.
Ardian Access provides wealth managers and clients with efficient access to alternative investment opportunities that were previously institutional-only. The platform offers professional investors flexible access to a diversified portfolio of private assets, including secondary market transactions and co-investment opportunities within private equity.
Secondary transactions involve buying interests in existing private equity funds or portfolios, allowing investors to gain exposure to seasoned assets. Co-investments allow investors to invest alongside Ardian directly into companies, often at a lower cost and with more control than traditional fund investments.
As a SICAV-RAIF (Société d'Investissement à Capital Variable - Reserved Alternative Investment Fund) structure, Ardian Access offers flexibility and can be structured as an evergreen fund, meaning it has no fixed lifespan. This allows continuous subscriptions and redemptions, providing investors with liquidity options uncommon in traditional private equity funds.
Jan Philipp Schmitz, Executive Vice-President at Ardian, emphasizes that secondaries are well-suited for private wealth due to their ability to provide wide diversification and quick returns. Over 20% of Ardian's latest Secondaries fundraise came through private wealth channels, demonstrating the growing interest in these investment opportunities.
Ardian manages the world's largest Secondaries & Primaries platform, with a significant co-investment offer. The firm's extensive experience across secondaries, primaries, and direct co-investment platforms is leveraged through Ardian Access, managing nearly $110 billion.
Marie-Victoire Rozé, Deputy Co-Head of Secondaries & Primaries and Senior Managing Director at Ardian, notes that there is an inflection point for private capital, with a growing number of private investors able to access private capital. Ardian Access aims to cater to this demand, allowing private clients to invest in private markets while diversifying their existing portfolios.
Ardian Access requires a minimum investment of €100,000 and was developed in partnership with iCapital. Private clients account for more than half of Ardian's Limited Partners (LPs) by number. The firm expects the growth of its Private Wealth Solutions team to continue in the coming years.
The Ardian Access platform provides private investors with access to the same deals that Ardian has sourced for institutional investors since its inception. By investing globally across various sectors and company sizes, overseen by high-quality General Partners (GPs), Ardian Access aims to generate long-term value and mitigate risk.
In summary, Ardian Access SICAV-RAIF provides professional investors:
- Access to private markets through secondary and co-investment channels.
- Portfolio diversification by investing across asset vintages and strategies.
- An evergreen fund structure offering ongoing liquidity and flexibility not typical of standard closed-end private equity funds.
- Immediate capital deployment while minimizing cash drag.
[1] Source: Ardian Press Release, "Ardian Launches Ardian Access SICAV-RAIF, an Evergreen Investment Vehicle for Professional Investors," March 2023.
- With the launch of Ardian Access SICAV-RAIF, professional investors can now get ongoing access to private assets, facilitating deal flow in various business sectors and expanding their investing opportunities in private markets.
- By offering secondary transactions and co-investment opportunities within private equity, Ardian Access enables wealth managers and clients to finance alternative investment opportunities that were previously limited to institutions, thus diversifying their portfolio and participating in the growing trend of private wealth solutions.
