Ardian has acquired a US $2.1 billion portfolio of limited partnership interests in 20 private equity funds from Canada Pension Plan Investment Board (CPP Investments).
The portfolio comprises 20 limited partnership interests, a majority of which are North American but also includes European buyout funds.
No names of the funds were disclosed. Currently, CPP Investments lists its interests in private equity funds managed by the following 47 PE firms
| Accel-KKR | Advent International |
| Location: United States | Location: Global |
| Commitment: US$320 million | Commitment: US$3.25 billion; €575 million |
| Date of initial investment: 2015 | Date of initial investment: 2001 |
| American Industrial Partners | Apollo Management |
| Location: United States | Location: Global |
| Commitment: US$400 million | Commitment: US$3 billion |
| Date of initial investment: 2015 | Date of initial investment: 2002 |
| Apax Partners | Ares Management |
| Location: Global | Location: United States |
| Commitment: US$1.8 billion; €1.1 billion | Commitment: US$1.5 billion |
| Date of initial investment: 2004 | Date of initial investment: 2003 |
| Bain Capital | BC Partners |
| Location: Global | Location: Europe |
| Total Investment: €450 million; US$1.1 billion; JPY 6 billion | Total investments: €825 million |
| Date of initial investment: 2014 | Date of initial investment: 2011 |
| The Blackstone Group | CCMP |
| Location: Global | Location: United States |
| Commitment: US$6.0 billion | Commitment: US$768 million |
| Date of initial investment: 2001 | Date of initial investment: 2002 |
| Charterhouse Capital Partners | Cinven |
| Location: United Kingdom | Location: Europe |
| Commitment: €400 million | Commitment: €1.5 billion |
| Date of initial investment: 2008 | Date of initial investment: 2006 |
| Clearlake Capital Group | Clayton, Dubiler & Rice, LLC |
| Location: United States | Location: Global |
| Commitment: US$330 million | Commitment: US$725 million |
| Date of initial investment: 2019 | Date of initial investment: 2017 |
| CVC Capital Partners | EQT Partners |
| Location: Global | Location: Europe |
| Total Investments: US$675 million; €3.4 billion | Commitment: €850 million |
| Date of initial investment: 2005 | Date of initial investment: 2017 |
| Ford Financial | General Atlantic |
| Location: United States | Location: Global |
| Commitment: US$188 million | Commitment: US$100 million |
| Date of initial investment: 2013 | Date of initial investment: 2022 |
| Genstar Capital | GTCR |
| Location: United States | Location: United States |
| Total Investments: US$1.1 billion | Total investments: US$300 million |
| Date of initial investment: 2017 | Date of initial investment: 2020 |
| Hellman & Friedman | Hg Capital |
| Location: United States | Location: Europe |
| Total Investments: US$2.8 billion | Commitment: US$520 million |
| Date of initial investment: 2004 | Date of initial investment: 2020 |
| Insight Venture Partners | Kainos Capital |
| Location: United States | Location: United States |
| Commitment: US$750 million | Commitment: NOT DISCLOSED |
| Date of initial investment: 2018 | Date of initial investment: 2016 |
| Kohlberg Kravis Roberts & Co. | Lion Capital |
| Location: Global | Location: United Kingdom |
| Commitment: US$1.4 billion; €298 million | Commitment: €200 million; US$250 million |
| Date of initial investment: 2004 | Date of initial investment: 2010 |
| New Mountain Capital | Northleaf Capital Partners |
| Location: United States | Location: Canada |
| Commitment: US$800 million | Commitment: NOT DISCLOSED |
| Date of initial investment: 2007 | Date of initial investment: 2006 |
| Oak Hill Capital Partners | Onex Corporation |
| Location: United States | Location: Canada/United States |
| Commitment: US$375 million | Commitment: US$1.35 billion |
| Date of initial investment: 2018 | Date of initial investment: 2003 |
| Permira Advisers | Quantum Energy Partners |
| Location: Europe | Location: United States |
| Total Investments: €1.6 billion; US$75 million | Commitment: US$750 million |
| Date of initial investment: 2006 | Date of initial investment: 2008 |
| Riverwood Capital Partners | Searchlight Capital Partners |
| Location: United States | Location: Global |
| Commitment: US$500 million | Commitment: US$390 million |
| Date of initial investment: 2014 | Date of initial investment: 2015 |
| Siris Partners | Silver Lake Partners |
| Location: United States | Location: United States |
| Commitment: US$400 million | Commitment: US$3.3 billion |
| Date of initial investment: 2014 | Date of initial investment: 2004 |
| Sterling Group | STAR Capital Partners |
| Location: United States | Location: Europe |
| Commitment: US$300 million | Commitment: €175 million |
| Date of initial investment: 2010 | Date of initial investment: 2016 |
| Stone Point Capital | Summa Equity |
| Location: United States | Location: Europe |
| Commitment: US$1.4 billion | Total Investments: €50 million |
| Date of initial investment: 2010 | Date of investment: 2021 |
| The Carlyle Group | Texas Pacific Group |
| Location: Global | Location: Global |
| Commitment: €475 million; US$850 million | Commitment: US$2.7 billion |
| Date of initial investment: 2015 | Date of initial investment: 2003 |
| Thoma Bravo | TDR Capital |
| Location: United States | Location: United Kingdom |
| Commitment: US$1.9 billion | Commitment: €325 million |
| Date of initial investment: 2014 | Date of initial investment: 2016 |
| TA Associates | Veritas Capital Fund Management |
| Location: Global | Location: United States |
| Total investments: US$250 million | Commitment: US$550 million |
| Date of initial investment: 2021 | Date of initial investment: 2014 |
| Vista Equity Partners | |
| Location: United States | |
| Commitment: US$1.7 billion | |
| Date of initial investment: 2014 |
Ardian Acquires $2.1 Billion Private Equity Portfolio from CPP Investments
Underscores Ardian’s position as a world leader in secondary buyout funds
NEW YORK, November 7, 2023 – Ardian, a world-leading private investment house, today announced it has acquired a US$2.1 billion portfolio of limited partnership interests in 20 private equity funds from Canada Pension Plan Investment Board (CPP Investments™), a global investment management organization with C$575 billion of assets under management. The portfolio comprises 20 limited partnership interests, a majority of which are North American but also includes European buyout funds.
The deal continues Ardian’s secondary funds strategy to provide active portfolio management solutions to large institutions looking to rebalance their portfolios and monetize their private equity investments. Ardian has the world’s largest Secondaries and Primaries platform with more than $89 billion under management or advisement. Over the last four years, Ardian has deployed more than US$40 billion in secondary private equity investments.
“This latest acquisition comes at a significant time for the industry where many LPs continue to address the denominator effect and are looking for portfolio management opportunities like this to open up capital for future commitments. We have acquired a portfolio of well-diversified North American and European buyout funds led by high-quality GPs who we know well,” said Mark Benedetti, Member of the Executive Committee and Co-head of Ardian US.
ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.
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