Ardian raises €2 billion to private debts financing to European companies

With this private debt fund, Ardian will continue to provide flexible and tailor-made financing arrangements to companies across Europe. Ardian is clearly one of Europe’s leading providers of such bespoke financing with the ability to arrange and hold both unitranche and subordinated financings, ranging from €40 million to €300 million, for private equity-backed companies.

Ardian’s third generation private debt fund is significantly larger than the second generation, which raised €1.5 billion in 2008. It has attracted a diverse global investor base, including insurance companies and pensions funds. Notably, half of investors in the fund are new Ardian investors.

The fund is already nearly 40% invested through nine investments. This includes most recently the arrangements of unitranche financing for Charlesbank Capital Partners’ acquisition of Six Degrees Group, a leading London-based provider of data services, and Cathay Capital’s acquisition of Cenexi, a French pharmaceutical company, both of which took place in July. 

Vincent Gombault, Member of the Executive Committee and Head of Funds of Funds and Private Debt, said: “Achieving this increase in the size compared to the previous fund is a significant accomplishment. It is a testament to the expertise of our team and our ability to consistently meet the evolving demands of clients and investors alike. As the market matures, private debt will take an increasingly significant role in global finance. We are very well placed to play a big part in this.”

Olivier Berment, Head of Private Debt and Managing Director, added: “Private debt is an important source of finance across Europe, and its prominence will continue to grow. It also represents an increasingly attractive source of returns for investors. We partner with companies for the long term and will continue to work with sponsors and management teams looking to create value through growth rather than simple financial engineering.” 

Ardian entered the private debt market in 2005 when it launched its first mezzanine fund. Since 2010, Ardian has on average arranged €500 million of financing per year. During the last 12 months, the Private Debt team has been further expanded, with the hiring of six persons in Paris and London. The 15-strong team has notably strengthened its presence on the UK market with the recruitment of Mark Brenke as Managing Director in London and the appointment of Guillaume Chinardet in Paris, who joined the company in 2007, as Head of Private Debt France.