Ardian Eyes New Secondaries Vehicle Following Record $30 Billion Raise

Ardian is initiating plans for its next secondaries fund, leveraging the momentum of a record-breaking fundraising cycle. The firm is targeting the acquisition of stakes in portfolios managed by other private-asset managers, continuing its strategy of providing liquidity in the private equity space. This move follows a massive $30 billion haul in 2025, which marked a significant milestone for the firm's capital-raising capabilities. The secondaries market has seen increased activity as institutional investors seek exits and liquidity for their private asset holdings. According to sources familiar with the matter, Ardian has already held informal discussions with potential investors to signal its intent. A formal fundraising pitch is expected to be presented to the market later this year or in the first quarter of 2027. The urgency for a new vehicle stems from the rapid deployment of its previous fund. The firm's ninth secondaries fund has already seen the bulk of its capital committed or deployed into target assets, leaving a need for fresh dry powder. The launch of another large-scale fund underscores the continued appetite for secondary market transactions, which serve as a critical liquidity valve for limited partners and asset managers globally.