Paris-based investment firm Ardian has raised more than 700 million euros (about $852 million) for its inaugural real estate European fund. The fund will target commercial property assets in Germany, France and Italy. The pool’s limited partners include major pension funds, insurance companies, financial institutions, and high-net-worth individuals.
Paris, March 1, 2018 – Ardian, a world-leading private investment house, today announces that it has raised more than €700 million for its first Real Estate European Fund, confirming Ardian’s position as now one of Europe’s leading private equity real estate investors. The fundraising marks the company’s continued growth into new attractive segments of the market as it meets the evolving needs of its investors. Real Estate is Ardian’s fifth pillar of investment activity alongside Fund of Funds, Direct Investment, Infrastructure and Private Debt.
The significant interest among investors once again underscores the strength of Ardian’s fundraising capability and trust of its investors, a group which comprises major pension funds, insurance companies, financial institutions, and High Net Worth Individuals across the world. In total, the Ardian Real Estate European Fund attracted nearly 50 investors from 11 different countries.
Adopting the multi-local presence and long term, disciplined investment philosophy present in the company’s other investment pillars, Ardian Real Estate combines the company’s on-the-ground knowledge and relationships with the global perspective, which has always given Ardian its competitive edge. The fund which has an investment sweet spot of €50 to €150 million, targets commercial property assets with a significant size in the core-plus / value-added segment and seeks to significantly enhance rental income through active asset management. The fund focuses on the main cities of the three largest economies in the Eurozone (Germany, France and Italy), where Ardian already has an extensive background in direct private investment.
The fund has already successfully deployed significant amounts of capital across four different attractive investment opportunities in its core markets of Germany, France and Italy:
· November 2016 – Wappenhalle (Konrad) office premises and business park complex in Munich, acquired from real estate asset manager, publity AG
· February 2017 – Six office buildings located in Milan, Rome and Bari, acquired from real estate fund, Cloé
· June 2017 – ‘Europa’ building in Levallois, West of Paris, acquired from media group, Lagardère as a joint venture with LaSalle Investment Management
· December 2017 – Heinemann Bogen office complex in Munich’s Neuperlach district, acquired from a fund managed by Corpus SIREO Real Estate Sireo, owned by Swiss Life Asset Managers
Dominique Senequier, President of Ardian, said: “This is a significant achievement for Ardian Real Estate, and indeed for the company more broadly. Ardian has already established itself as a leading player in the global investment industry. Now, this fund confirms our position as one of the key players within real estate. Ardian Real Estate, which is Ardian’s fifth investment pillar, was always a natural progression for us, and this fund signifies the growing strength and variety of our offering to investors.”
Bertrand Julien-Laferrière, Head of Ardian Real Estate, added: “This fund is a milestone moment for Ardian Real Estate. The positive reception and strong support for this fund among both existing and new investors shows the appetite for this asset class. It is also recognition of Ardian’s strong track record and of the quality of its real estate teams in Paris, Frankfurt and Milan. We have already been able to deploy capital across nine assets that perfectly fit our strategy, highlighting the attractive investment opportunities that exist on the market and we’ll announce significant new transactions in the coming months. With the success of this fund, the market gets a new and exciting entrant that benefits from Ardian’s multi-local presence and long term, disciplined investment philosophy.”
Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 480 employees working from thirteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore and Tokyo). It manages funds on behalf of 650 clients through five pillars of investment expertise: Real Estate, Funds of Funds, Direct Funds, Infrastructure and Private Debt.