Sorry for the specific / single firm post here but I'd really appreciate any insight folks have on Ardian respect to their five pillars especially Fund of Funds/Secondaries ($55bn) Direct Funds/Buyouts/Co-Investments ($23bn) and Private Debt ($7bn) practice.
Appreciate any insights on deal team structure/culture/recent deals/recruitment process, etc.
Thanks in advance!
I understand their last secondary fund of USD ~20bn was raised in 2018 and preforming reasonably well. They should be due to come back to the market this year. Performance of Ardian's secondary funds when they first started was exceptionally strong (think 30-40s IRR) but the funds were a lot stronger.
Thanks for the insights. This is very helpful. What do you mean by funds were lot stronger? meaning IRR not as strong as before?
Yes, that’s right. Teens IRR as far as I can tell but fund size has grown a lot. Secondary funds generally should have a stronger IRR than primary commitment as the secondary funds don’t have to go through the j curve.
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