Ardian
Ardian is a global diversified private markets firm headquartered in Paris, France, founded in 1996. It manages or advises approximately $196 billion of assets across Private Equity, Real Assets, and Credit, serving over 1,890 clients worldwide.
AUM
€196.0B
Funds
34
vintages 1997–2025
Portfolio
254
Exits
254
Ardian is a Paris buyout firm with €196.0B AUM, 254 active companies and 254 exits.
Key takeaways
- ·87 exits in the last 5 years · consistent DPI cadence.
- ·Average hold across 252 realized deals: 6 years.
- ·Fund cadence: ~1Y between vintages · last raise 2025.
Sector breakdown
506 companiesIndustrials
94 · 19%
Consumer
64 · 13%
Business Services
62 · 12%
Energy
43 · 8%
Healthcare
38 · 8%
TMT
36 · 7%
Software
24 · 5%
Telecom
16 · 3%
Geography breakdown
30 geographiesFrance
220 · 43%
US
80 · 16%
Italy
49 · 10%
Germany
45 · 9%
Spain
22 · 4%
UK
11 · 2%
Switzerland
9 · 2%
China
9 · 2%
Key facts
Recent exits
Ardian sold Acousti Engineering Company of Florida to Gamut Capital Management in 2026 after 6 years.
Ardian sold Nova Reperta to Tilleghem in 2026 after 5 years.
Ardian sold Rivalis to Management buyback (Lionel & Damien Valdan) in 2026 after 7 years.
Coverage notes
34 funds tracked, 508 portfolio companies (254 active · 254 realized). Verified weekly from public filings and deal announcements.
Funds & portfolio
Every fund Ardian has raised, with its portfolio companies. Hand-checked from public filings.
34 funds
Fund
Strategy
Vintage
Size
Assets
Exits
Ardian Expansion Fund VI2025€3.2B2 assets–2025 · 1yr€3.2B2–
Unrealized
2 held| Company | Entry |
|---|---|
| Blueprint HR Software Solutions HR Tech · India | 2025 |
| Munich Electrification Mobility · Germany | 2026 |
Ardian Infrastructure Fund VIInfrastructure2025€20.0B13 assetsInfrastructure2025 · 1yr€20.0B13–
Unrealized
13 held| Company | Entry |
|---|---|
| AFCO Industrials · US | 2025 |
| Akuo ClimateTech · France | 2025 |
| Attero Energy · Netherlands | – |
| CampusParc Industrials · US | 2024 |
| Clermont Industrials · Canada | 2024 |
| Heathrow Industrials · UK | 2024 |
| Honkajoki Wind Park Energy · Finland | – |
| InEnergy Solar Italy Energy · Italy | – |
| MXT Holdings Telecom · Mexico | – |
| SAVE Logistics · Italy | 2026 |
| UNITe ClimateTech · France | 2024 |
| Verlat Energy Energy · Peru | – |
| Verne TMT · France | 2024 |
Ardian Secondaries Fund IXSecondaries2025€30.0B2 assetsSecondaries2025 · 1yr€30.0B2–
Ardian Growth Fund IIIGrowth2024€530M10 assets1 exitsGrowth2024 · 2yr€530M101
Unrealized
10 held| Company | Entry |
|---|---|
| Aprium Pharmacie Healthcare · France | 2024 |
| Argon&Co Business Services · France | – |
| IVB Wellness Lab Consumer · Spain | 2026 |
| JPB Système Aerospace & Defence · France | – |
| My Pie Consumer · France | 2024 |
| Parnasse Education Education · France | 2023 |
| Taxually SaaS · Hungary | 2022 |
| Théradial MedTech · France | 2023 |
| TimeOne AdTech · France | 2024 |
| Uptoo Business Services · France | 2022 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Nutripure Consumer · France | 2022 | 2024 | Secondary | PAI Partners | – |
Ardian Semiconductor FundBuyout2024€1.0B3 assets1 exitsBuyout2024 · 2yr€1.0B31
Unrealized
3 held| Company | Entry |
|---|---|
| centrotherm international Industrials · France | – |
| Synergie Cad Industrials · France | 2024 |
| Vsora Deep Tech · France | 2026 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Ion Beam Services TMT · France | 2024 | 2024 | Trade Sale | Ion Beam Solutions | – |
Ardian Co-Investment Fund VIBuyout2023€3.4B28 assetsBuyout2023 · 3yr€3.4B28–
Unrealized
15 held| Company | Entry |
|---|---|
| Ahead TMT · US | 2023 |
| Anovo Pharma · US | – |
| Arcwood Environmental Business Services · US | 2024 |
| Avetta SaaS · US | 2024 |
| Barnes Industrials · US | – |
| Chauvet & Sons Industrials · US | 2023 |
| CohnReznick Business Services · US | 2025 |
| Cotiviti HealthTech · US | 2024 |
| European Digital Group Business Services · France | 2024 |
| Focus Financial Business Services · US | 2023 |
| Fortnox SaaS · Sweden | – |
| GCL Business Services · US | – |
| Healthcare Australia Healthcare · Australia | 2023 |
| Infopro Digital Business Services · France | 2023 |
| ISC InsurTech · US | 2025 |
Showing 15 of 28 companies. All 28 Ardian Co-Investment Fund VI companies
Ardian Americas Infrastructure Fund VActiveInfrastructure2022€2.1B1 assetsInfrastructure2022 · 4yr€2.1B1–
Unrealized
1 held| Company | Entry |
|---|---|
| Aire Networks Telecom · Spain | 2022 |
Ardian Real Estate European Fund IIReal Estate2021€1.2B12 assetsReal Estate2021 · 5yr€1.2B12–
Unrealized
12 held| Company | Entry |
|---|---|
| Atout Box Logistics · France | 2024 |
| Costockage Logistics · France | – |
| NetCo Group Industrials · France | 2021 |
| Pointe des Arts Industrials · France | 2022 |
| Quartier 21 Industrials · Germany | 2021 |
| RG Safety Industrials · France | 2021 |
| Ritterhof Industrials · Germany | 2022 |
| Temple Industrials · France | 2020 |
| Terra Industrials · Spain | 2024 |
| Vendôme/Montaigne portfolio Industrials · France | – |
| Vespucci Industrials · Italy | 2022 |
| Westendcarree Real Estate · Germany | 2021 |
Ardian Expansion Fund VGrowth2020€2.0B25 assets3 exitsGrowth2020 · 6yr€2.0B253
Unrealized
15 held| Company | Entry |
|---|---|
| Alixio Business Services · France | 2022 |
| Alstef Group Industrials · France | 2024 |
| Assist Digital Business Services · Italy | 2023 |
| Cérélia Group Consumer · France | 2020 |
| Deli Home Construction · Netherlands | 2021 |
| Diam Industrials · France | 2024 |
| Dovida Healthcare · Switzerland | – |
| Fermax TMT · Spain | 2026 |
| Finaxy Group Financials · France | 2020 |
| Groupe Orion Financials · France | 2024 |
| Groupe RG Business Services · France | 2021 |
| Impact Group Industrials · France | 2020 |
| Liftket Industrials · Germany | 2023 |
| Mastergrid Energy · France | 2025 |
| Mimacom Flowable Group Software · Switzerland | – |
Showing 15 of 28 companies. All 28 Ardian Expansion Fund V companies
Ardian Co-Investment Fund VRealizedBuyout2019€2.5B36 assets4 exitsBuyout2019 · 7yr€2.5B364
Unrealized
15 held| Company | Entry |
|---|---|
| American Renal Associates Healthcare · US | 2021 |
| Brand Safway Industrials · US | 2020 |
| Cast & Crew HR Tech · US | 2019 |
| Diot Siaci Financials · France | 2021 |
| Elsan Healthcare · France | 2020 |
| Emera Group Healthcare · France | 2019 |
| Ermewa Group Logistics · France | 2021 |
| Galderma Pharma · Switzerland | 2019 |
| Galway Holdings Financials · US | 2020 |
| GBA Group Healthcare · Germany | 2021 |
| Imagine Learning TMT · US | 2021 |
| Infoblox TMT · US | 2020 |
| Insight Global Business Services · US | 2019 |
| Iq-eq Financials · Luxembourg | 2021 |
| Leqee Business Services · China | 2019 |
Showing 15 of 40 companies. All 40 Ardian Co-Investment Fund V companies
Ardian Infrastructure Fund VRealizedInfrastructure2019€7.0B17 assets1 exitsInfrastructure2019 · 7yr€7.0B171
Unrealized
15 held| Company | Entry |
|---|---|
| 4NEW Energy · UK | 2019 |
| Adamo Telecom · Spain | 2021 |
| Andberg Vind Energy · Sweden | 2019 |
| Energia & Servizi Srl Energy · Italy | 2021 |
| EWE AG Energy · Germany | 2020 |
| GreenYellow ClimateTech · France | 2022 |
| Hill Top Energy Center Energy · US | 2019 |
| ICQ Holding Energy · Italy | 2022 |
| Inwit Telecom · Italy | 2020 |
| Maple Leaf TMT · Canada | 2020 |
| Míla Telecom · Iceland | 2022 |
| Nevel Energy · Finland | 2021 |
| Novasol Invest La Isla Energy · Spain | 2019 |
| Tacna and Panamericana Energy · Peru | 2019 |
| Unison Telecom · US | 2021 |
Showing 15 of 18 companies. All 18 Ardian Infrastructure Fund V companies
Ardian North America Fund IIBuyout2019€350M5 assets2 exitsBuyout2019 · 7yr€350M52
Unrealized
5 held| Company | Entry |
|---|---|
| Celli Industrials · Italy | 2019 |
| Impact Climate Technologies Business Services · US | – |
| PRGX Business Services · US | 2021 |
| Revere Plastics Systems Industrials · US | 2017 |
| Veritas Mobility · US | 2017 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Acousti Engineering Company of Florida Construction · US | 2020 | 2026 | Secondary | Gamut Capital Management | – |
| Soteria Flexibles Holdings Industrials · US | 2019 | 2023 | Secondary | TJC | – |
Ardian Growth Fund IIRealizedGrowth2018€230M14 assets11 exitsGrowth2018 · 8yr€230M1411
Unrealized
14 held| Company | Entry |
|---|---|
| Alsatis Telecom · France | 2020 |
| Cipanguo Consumer · France | 2020 |
| Digital Value Business Services · France | 2021 |
| easiware SaaS · France | 2021 |
| Elée IT Services · France | 2021 |
| H2 Pharma Pharma · France | 2020 |
| IWD Software · France | 2018 |
| Jakala AdTech · Italy | 2021 |
| Kapten & Son Consumer · Germany | 2021 |
| Logalty LegalTech · Spain | 2021 |
| Panasa/Berlys Consumer · Spain | 2018 |
| Sqorus Business Services · France | 2019 |
| Stratégie Media Conseil Software · France | 2021 |
| Translated Software · Italy | 2021 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Nova Reperta Business Services · Belgium | 2021 | 2026 | Secondary | Tilleghem | – |
Showing 15 of 25 companies. All 25 Ardian Growth Fund II companies
Ardian Buyout Fund VIIBuyout2017€6.5B34 assets11 exitsBuyout2017 · 9yr€6.5B3411
Unrealized
15 held| Company | Entry |
|---|---|
| AD Education Education · France | 2021 |
| Advancion TMT · US | 2020 |
| Aire Network Business Services · Spain | 2022 |
| Babeau-Seguin Consumer · France | 2017 |
| Bio IDF Sante Healthcare · France | 2021 |
| Biofarma Group Pharma · Italy | 2022 |
| Celli group Consumer · Italy | 2019 |
| Cérélia Consumer · France | 2020 |
| Dedalus HealthTech · Italy | 2020 |
| Diam International Industrials · France | 2018 |
| Diot-Siaci Fintech · France | 2015 |
| Dynamic Technologies Mobility · Italy | 2017 |
| Emera Healthcare · France | 2019 |
| Energia Group Energy · Ireland | 2026 |
| Ennov Software · France | 2026 |
Showing 15 of 45 companies. All 45 Ardian Buyout Fund VII companies
Ardian Real Estate European Fund IRealizedReal Estate2017€700M7 assets8 exitsReal Estate2017 · 9yr€700M78
Unrealized
7 held| Company | Entry |
|---|---|
| Carl Industrials · Germany | 2018 |
| Elisa Industrials · Germany | 2019 |
| Fidia Industrials · Italy | 2019 |
| Mirò Portfolio Industrials · Italy | 2017 |
| Rio Industrials · France | 2018 |
| Roncaglia Industrials · Italy | 2019 |
| Villa Emiliani Industrials · Italy | 2018 |
Realized
8 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Europa Industrials · France | 2017 | 2019 | Secondary | Amundi Immobilier, La Française Real Estate Partners and Caisse d'assurance vieillesse des pharmaciens | – |
| Gustav Industrials · Germany | 2018 | 2021 | Secondary | Coros | – |
| Konrad Industrials · Germany | 2017 | 2020 | Secondary | Union Investment and Hansainvest | – |
| Melzi d'Eril Industrials · Italy | 2018 | 2022 | – | – | – |
| Napoléon Industrials · France | 2018 | 2020 | Secondary | BNP Paribas Cardif | – |
| Pyramides Industrials · France | 2019 | 2020 | Secondary | Caisse de Retraite du Personnel Navigant | – |
| Renaissance SaaS · France | 2018 | 2025 | Trade Sale | – | – |
| Store Industrials · Germany | 2018 | 2023 | – | – | – |
Ardian Buyout Fund VIRealizedBuyout2016€4.5B1 assets12 exitsBuyout2016 · 10yr€4.5B112
Unrealized
1 held| Company | Entry |
|---|---|
| Dedalus HealthTech · Italy | 2016 |
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| D & B audiotechnik TMT · Germany | 2016 | 2023 | Secondary | Providence Equity Partners | – |
| Envision Pharma Healthcare · UK | 2016 | 2021 | Secondary | GHO Capital (consortium w/ Mubadala, HarbourVest, Northwestern Mutual) | – |
| ESIM Chemicals TMT · Austria | 2015 | 2018 | Secondary | Sun European Partners | – |
| IRCA Industrials · Italy | 2015 | 2017 | Secondary | The Carlyle Group | – |
| Italmatch Chemicals Industrials · Italy | 2014 | 2018 | Secondary | Bain Capital Private Equity | – |
| Kersia Healthcare · France | 2016 | 2020 | Secondary | IK Investment Partners | – |
| NHV Industrials · Belgium | 2014 | 2025 | Trade Sale | GD Helicopter Finance | – |
| Schleich Consumer · Germany | 2014 | 2019 | Secondary | Partners Group | – |
| SIACI Saint Honoré Business Services · France | 2015 | 2021 | Secondary | Ontario Teachers' Pension Plan-led consortium and Burrus Group | – |
| Solina Consumer · France | 2018 | 2021 | Secondary | Astorg | – |
| Trigo Business Services · France | 2016 | 2026 | Secondary | Montyon Capital | – |
| Weber Automotive Mobility · Germany | 2016 | 2019 | – | – | – |
Ardian Expansion Fund IVRealizedGrowth2016€1.0B2 assets11 exitsGrowth2016 · 10yr€1.0B211
Unrealized
2 held| Company | Entry |
|---|---|
| SAAL Digital Consumer · Germany | 2019 |
| Technology & Strategy TMT · France | 2019 |
Realized
11 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| CCC Business Services · Germany | 2018 | 2020 | Trade Sale | TELUS International | – |
| Corob Industrials · Italy | 2018 | 2024 | Trade Sale | Graco Inc. | – |
| Diam Business Services · France | 2016 | 2018 | MBO | DIAM management team, EMZ Partners and BNP Paribas Développement | – |
| F2A Business Services · Italy | 2016 | 2024 | Trade Sale | SD Worx | – |
| Gantner TMT · Austria | 2016 | 2020 | Trade Sale | SALTO Systems | – |
| Imes-Icore MedTech · Germany | 2017 | 2023 | Secondary | EMZ Partners | – |
| Ionisos MedTech · France | 2016 | 2019 | Secondary | 3i Infrastructure | – |
| Lagarrigue MedTech · France | 2016 | 2021 | Secondary | Naxicap Partners | – |
| Opteven Consumer · France | 2018 | 2022 | Secondary | Apax | – |
| Schwind MedTech · Germany | 2016 | 2023 | Secondary | Adagia Partners | – |
| Trustteam IT Services · Belgium | 2018 | 2022 | Secondary | Rivean Capital | – |
Ardian Infrastructure Fund IVRealizedInfrastructure2016€2.6B13 assets2 exitsInfrastructure2016 · 10yr€2.6B132
Unrealized
13 held| Company | Entry |
|---|---|
| Ascendi Group Industrials · Portugal | 2016 |
| ASTM Industrials · Italy | 2018 |
| Ataca and Pantac Energy · France | 2016 |
| Autovia Padana Industrials · Italy | 2018 |
| C.L.S. TMT · France | – |
| CGE Palea Arsa Energy · Italy | 2016 |
| Hamnefjell Vinkraft AS Energy · Norway | 2016 |
| Los Ausines Energy · Spain | 2018 |
| Lyrestad Holding AB Energy · Sweden | 2016 |
| Skyline Renewables Energy · US | 2018 |
| SPMR Energy · France | 2017 |
| Tolve Windfarms Holding Energy · Italy | 2017 |
| Veciana Energy · Spain | 2018 |
Realized
2 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| LBC Tank Terminals Energy · US | 2017 | 2025 | Trade Sale | Mitsui O.S.K. Lines (MOL) | – |
| Pampul Energy · Peru | 2016 | 2023 | – | – | – |
Ardian Co-Investment Fund IVRealizedBuyout2015€1.1B20 assets16 exitsBuyout2015 · 11yr€1.1B2016
Unrealized
15 held| Company | Entry |
|---|---|
| Aeroporto di Bologna Mobility · Italy | 2015 |
| Algogroup Mobility · Italy | 2015 |
| Allegro E-commerce · Poland | 2017 |
| Evolve IP TMT · US | 2016 |
| Fives Group Industrials · France | 2018 |
| Global Medical Response Healthcare · US | 2015 |
| Inventus TMT · US | 2015 |
| Lease Plan Consumer · Netherlands | 2016 |
| Maxeda Consumer · Netherlands | 2015 |
| Mills Fleet Farm Consumer · US | 2016 |
| ParkDean Hospitality · UK | 2017 |
| Pet Smart Consumer · US | 2015 |
| Praesidiad Aerospace & Defence · France | 2017 |
| Ramudden Industrials · Sweden | 2018 |
| Rodan & Fields Consumer · US | 2018 |
Showing 15 of 36 companies. All 36 Ardian Co-Investment Fund IV companies
Ardian Growth Fund IRealizedGrowth2014€70M2 assets38 exitsGrowth2014 · 12yr€70M238
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Sociabble Software · France | 2016 | 2026 | Trade Sale | Poppulo | – |
| PC Soft DevTools · France | 2015 | 2025 | Trade Sale | Volaris Group (Constellation Software) | – |
| Ariane Systems Software · France | 2015 | 2024 | Trade Sale | Vertus Group (Jonas Software / Constellation Software) | – |
| Hawk AdTech · France | 2016 | 2023 | Trade Sale | Azerion | – |
| Abvent Software · France | 2017 | 2022 | Trade Sale | Graphisoft | – |
| Clever Age IT Services · France | 2015 | 2022 | Trade Sale | Jakala | – |
| Prodware Software · France | 2008 | 2022 | Secondary | Founders OPA | – |
| T2O media Business Services · Spain | 2017 | 2022 | Secondary | Aurica Capital | – |
| Brainsonic Business Services · France | 2015 | 2021 | – | – | – |
| Ikoula Cloud Infrastructure · France | 2014 | 2021 | Trade Sale | Sewan | – |
| Neotys Software · France | 2014 | 2021 | Trade Sale | Tricentis | – |
| Saaswedo Software · France | 2015 | 2021 | Trade Sale | EPSA | – |
| Santé discount Consumer · France | 2017 | 2021 | Trade Sale | Atida | – |
Showing 15 of 40 companies. All 40 Ardian Growth Fund I companies
Ardian Co-Investment Fund IIIRealizedBuyout2013€700M1 assets12 exitsBuyout2013 · 13yr€700M112
Unrealized
1 held| Company | Entry |
|---|---|
| Acteon Energy · UK | 2012 |
Realized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Acino Pharma · Switzerland | 2013 | 2022 | Secondary | ADQ | – |
| ATI Healthcare · US | 2012 | 2016 | Secondary | Advent International | – |
| Cbanner Consumer · China | 2012 | 2017 | – | – | – |
| ECI Software solutions SaaS · US | 2014 | 2021 | Secondary | Leonard Green & Partners | – |
| EFS Business Services · US | 2014 | 2017 | Trade Sale | WEX Inc. | – |
| Gates Industrials · US | 2014 | 2025 | – | – | – |
| GC Flowers Consumer · China | 2014 | 2020 | – | – | – |
| Global Logistics Properties Business Services · China | 2014 | 2020 | Secondary | Nesta Investment Holdings consortium | – |
| Jeld Wen Construction · US | 2012 | 2021 | – | – | – |
| Newrest Hospitality · France | 2014 | 2019 | MBO | Management | – |
| Taminco Healthcare · Belgium | 2012 | 2014 | Trade Sale | Eastman Chemical Company | – |
| Wirb Healthcare · US | 2012 | 2020 | Recapitalization | Leonard Green & Partners-led investor group | – |
Ardian Expansion Fund IIIRealizedGrowth2013€570M0 assets9 exitsGrowth2013 · 13yr€570M09
Realized
9 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Ada International Consumer · Germany | 2014 | 2018 | Secondary | Moonlake Capital | – |
| Chal-Tec (BBG) Consumer · Germany | 2015 | 2021 | Secondary | Bain Capital | – |
| CLS Group Aerospace & Defence · France | 2013 | 2020 | Secondary | Compagnie Nationale à Portefeuille | – |
| Groupe Bio7 Industrials · France | 2014 | 2018 | Trade Sale | Cerba HealthCare | – |
| Micropross TMT · France | 2014 | 2015 | Trade Sale | National Instruments | – |
| RGI SaaS · Italy | 2014 | 2017 | Secondary | Corsair Capital | – |
| Serma Group Aerospace & Defence · France | 2015 | 2018 | MBO | SERMA Group management and Chequers Capital | – |
| Spie Batignolles Construction · France | 2014 | 2019 | MBO | Spie Batignolles management, EMZ Partners, Tikehau Capital, Société Générale Capital Partenaires, IDIA Capital Investissement and Socadif Capital Investissement | – |
| Synerlab Pharma · France | 2013 | 2024 | Secondary | Blue Wolf Capital | – |
Ardian Infrastructure Fund IIIRealizedInfrastructure2013€1.7B2 assets10 exitsInfrastructure2013 · 13yr€1.7B210
Realized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| 2i Aeroporti Mobility · Italy | 2015 | 2024 | Trade Sale | Asterion Industrial Partners | – |
| Aloe Energy Energy · France | 2014 | 2017 | Trade Sale | Sonnedix | – |
| CLH Energy · Spain | 2011 | 2018 | Secondary | APG | – |
| Encevo Energy · Luxembourg | 2012 | 2018 | Trade Sale | China Southern Power Grid International (HK) | – |
| Indigo Mobility · France | 2014 | 2019 | Secondary | Mirova and MEAG | – |
| Kallista Energy Investment Energy · France | 2011 | 2018 | Trade Sale | Boralex | – |
| Lisea Industrials · France | 2011 | 2024 | Trade Sale | VINCI Concessions / Meridiam | – |
| London Luton Airport Industrials · UK | 2013 | 2018 | Secondary | AMP Capital | – |
| Trados M-45 Industrials · Spain | 2011 | 2024 | Trade Sale | Abertis | – |
| Tunels Barcelona Cadi Industrials · Spain | 2015 | 2019 | Secondary | Predica | – |
Ardian Buyout Fund VRealizedBuyout2012€2.7B0 assets11 exitsBuyout2012 · 14yr€2.7B011
Realized
11 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bruni Glass TMT · Italy | 2012 | 2016 | Trade Sale | Berlin Packaging | – |
| Fives Industrials · France | 2012 | 2018 | Secondary | CDPQ and PSP Investments | – |
| Laboratoires Anios Healthcare · France | 2013 | 2017 | Trade Sale | Ecolab | – |
| Lima Corporate Industrials · Italy | 2012 | 2016 | Secondary | EQT | – |
| Odigeo Hospitality · France | 2011 | 2022 | Secondary | Polus Capital Management and Conversant Capital | – |
| Outremertelecom Telecom · France | 2011 | 2013 | Trade Sale | Altice | – |
| Photonis Aerospace & Defence · France | 2011 | 2021 | Secondary | HLD Europe | – |
| Riemser Pharma · Germany | 2012 | 2020 | Trade Sale | Esteve | – |
| Schustermann Borenstein Consumer · Germany | 2012 | 2017 | Secondary | Permira | – |
| Seqens Pharma · France | 2011 | 2016 | Secondary | Eurazeo and Mérieux Développement | – |
| Trescal Business Services · France | 2013 | 2018 | Secondary | OMERS Private Equity | – |
Ardian Buyout Fund IVRealizedBuyout2008€400M0 assets4 exitsBuyout2008 · 18yr€400M04
Realized
4 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| HSE 24 TMT · Germany | 2010 | 2012 | Secondary | Providence Equity Partners | – |
| Lowen Play Consumer · Germany | 2008 | 2022 | Trade Sale | Senior secured noteholders | – |
| Newrest Hospitality · France | 2009 | 2014 | – | – | – |
| Unipex Industrials · France | 2008 | 2012 | Secondary | IK Investment Partners | – |
Ardian Co-Investment Fund IIRealizedBuyout2008€500M0 assets13 exitsBuyout2008 · 18yr€500M013
Realized
13 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Bharti Infratel Telecom · India | 2008 | 2016 | – | – | – |
| Caesars Hospitality · US | 2008 | 2018 | – | – | – |
| Envision Healthcare · US | 2011 | 2017 | – | – | – |
| Fort Dearborn Company Industrials · US | 2010 | 2016 | Secondary | Advent International | – |
| Glamour Sales Consumer · China | 2010 | 2021 | Trade Sale | Alibaba Group | – |
| Insight Global Business Services · US | 2010 | 2012 | Secondary | Harvest Partners | – |
| KOS Healthcare · Italy | 2010 | 2016 | Secondary | CIR and F2i Healthcare | – |
| Monash IVF Healthcare · Australia | 2009 | 2020 | – | – | – |
| NCI Financials · China | 2011 | 2016 | – | – | – |
| Odigeo Hospitality · Spain | 2011 | 2022 | – | – | – |
| Spie Energy · France | 2011 | 2017 | Secondary | FFP | – |
| Tomkins Industrials · US | 2010 | 2015 | Secondary | Blackstone | – |
| Zabka Consumer · Poland | 2011 | 2017 | Secondary | CVC Capital Partners | – |
Ardian Infrastructure Fund IIRealizedInfrastructure2008€1.0B1 assets3 exitsInfrastructure2008 · 18yr€1.0B13
Unrealized
1 held| Company | Entry |
|---|---|
| A88 Alicorne Industrials · France | 2008 |
Realized
3 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| 2i Rete Gas Energy · Italy | 2009 | 2017 | Secondary | APG and AXA | – |
| Anglian water Energy · UK | 2008 | 2014 | – | – | – |
| Synerail Industrials · France | 2010 | 2018 | Secondary | APG | – |
Ardian Expansion Fund IIRealizedGrowth2006€430M0 assets22 exitsGrowth2006 · 20yr€430M022
Realized
15 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Solina Consumer · France | 2018 | 2021 | Secondary | Astorg | – |
| Champeau Construction · France | 2006 | 2020 | – | – | – |
| Ouvêo Construction · France | 2011 | 2018 | Secondary | Alliance Entreprendre, Siparex and Galia Gestion | – |
| Skyrock TMT · France | 2006 | 2018 | – | – | – |
| Frostkrone Consumer · Germany | 2012 | 2017 | Secondary | EMERAM Capital Partners | – |
| Altares Business Services · France | 2008 | 2016 | Secondary | Naxicap Partners | – |
| Groupe Charlois Industrials · France | 2009 | 2015 | MBO | Intermediate Capital Group and Sylvain Charlois | – |
| Novarc Industrials · France | 2012 | 2015 | Secondary | Bpifrance and financial partners | – |
| Novotema Industrials · Italy | 2012 | 2015 | Trade Sale | IDEX Corporation | – |
| Arkadin TMT · France | 2012 | 2014 | Trade Sale | NTT Communications | – |
| CCC Business Services · Germany | 2009 | 2013 | – | – | – |
| Cegos Business Services · France | 2009 | 2013 | MBO | Management | – |
| Duplomatic Oleodinamica Industrials · Italy | 2008 | 2013 | Secondary | Progressio SGR | – |
| Phönix/Strack Industrials · Germany | 2010 | 2013 | Trade Sale | Curtiss-Wright Corporation | – |
| Rollon Industrials · Italy | 2010 | 2013 | Secondary | Chequers Capital and IGI | – |
Showing 15 of 22 companies. All 22 Ardian Expansion Fund II companies
Ardian Buyout Fund IIIRealizedBuyout2005€500M0 assets10 exitsBuyout2005 · 21yr€500M010
Realized
10 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Aixam Mobility · France | 2006 | 2015 | Trade Sale | Polaris Industries | – |
| Alvest Aerospace & Defence · France | 2006 | 2013 | Secondary | LBO France | – |
| CABB Industrials · Germany | 2007 | 2011 | Secondary | Bridgepoint | – |
| Camaieu Consumer · France | 2005 | 2007 | Secondary | Cinven | – |
| Diana Consumer · France | 2007 | 2014 | Trade Sale | Symrise AG | – |
| Eliokem Industrials · France | 2005 | 2010 | Trade Sale | OMNOVA Solutions Inc. | – |
| Gerflor Construction · France | 2006 | 2011 | Secondary | Intermediate Capital Group | – |
| Rail.one Energy · Germany | 2006 | 2011 | – | – | – |
| Skyrock TMT · France | 2006 | 2011 | – | – | – |
| Spotless Group Consumer · France | 2007 | 2010 | Secondary | BC Partners | – |
Ardian Co-Investment Fund IRealizedBuyout2005€300M0 assets21 exitsBuyout2005 · 21yr€300M021
Realized
15 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Kyobo Financials · South Korea | 2007 | 2025 | – | – | – |
| Easou TMT · China | 2006 | 2017 | – | – | – |
| SinoPacific Energy · China | 2007 | 2017 | Trade Sale | CIMC Enric | – |
| Bité Telecom · Lithuania | 2007 | 2016 | Secondary | Providence Equity Partners | – |
| NXP TMT · Netherlands | 2006 | 2016 | – | – | – |
| TDF Telecom · France | 2007 | 2016 | Secondary | Brookfield Infrastructure, PSP Investments and APG Asset Management | – |
| ARK Nursing and Care agency Consumer · US | 2007 | 2015 | Trade Sale | 4 West Holdings | – |
| ISS Business Services · Denmark | 2005 | 2015 | – | – | – |
| Nielsen TMT · Netherlands | 2006 | 2015 | – | – | – |
| Alliance Boots Consumer · US | 2007 | 2014 | Trade Sale | Walgreens (Walgreens Boots Alliance) | – |
| Allison Transmission Mobility · US | 2007 | 2014 | – | – | – |
| Spirit Aerospace & Defence · US | 2005 | 2014 | – | – | – |
| Aster HealthTech · Poland | 2006 | 2013 | Trade Sale | Liberty Global / UPC Polska | – |
| Com Hem Telecom · Sweden | 2006 | 2013 | – | – | – |
| Keolis Industrials · France | 2006 | 2013 | Secondary | SNCF and Caisse de dépôt et placement du Québec | – |
Showing 15 of 21 companies. All 21 Ardian Co-Investment Fund I companies
Ardian Infrastructure Fund IRealizedInfrastructure2005€500M1 assets5 exitsInfrastructure2005 · 21yr€500M15
Unrealized
1 held| Company | Entry |
|---|---|
| Daunia Calvello/ Daunia Serracapriola Energy · Italy | 2007 |
Realized
5 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Calvello & Serracapriola / 3NEW & Partners Energy · Italy | 2007 | 2017 | Secondary | APG and AXA | – |
| Hisi Healthcare · Italy | 2007 | 2017 | Secondary | APG and AXA | – |
| Sanef Industrials · France | 2006 | 2017 | Trade Sale | Abertis, Prédica and CNP Assurances | – |
| Saur Group Energy · France | 2007 | 2012 | – | – | – |
| Sita Cornwall et Sita Northumberland Energy · France | 2006 | 2014 | – | – | – |
Ardian Expansion Fund IRealizedGrowth2001€200M0 assets8 exitsGrowth2001 · 25yr€200M08
Realized
8 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| BBSP Business Services · France | 2005 | 2010 | – | – | – |
| Iliad Telecom · France | 2003 | 2004 | – | – | – |
| Kammann Industrials · Germany | 2004 | 2010 | – | – | – |
| Lowendal Group Business Services · France | 2004 | 2013 | MBO | Management and BNP Paribas Développement | – |
| Moteurs Baudoin Industrials · France | 2004 | 2013 | Trade Sale | Weichai Power | – |
| Profil Industrials · Germany | 2003 | 2007 | Secondary | Halder | – |
| Sateco Construction · France | 2004 | 2005 | – | – | – |
| Sotralu Construction · France | 2005 | 2008 | Secondary | Andera Partners | – |
Ardian Buyout Fund IIRealizedBuyout2000€350M0 assets4 exitsBuyout2000 · 26yr€350M04
Ardian Buyout Fund IRealizedBuyout1997€100M0 assets1 exitsBuyout1997 · 29yr€100M01
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Linedata Services TMT · France | 1998 | 2005 | – | – | – |
Other portfolio companies
2 more Ardian investments not tied to a tracked fund.
- Babeau Seguin · Consumer · France · 2018
- Unither Pharmaceuticals · Pharma · France · 2017
About Ardian
Ardian is a global private markets investment firm with €196.0 billion of assets under management as of December 2024, headquartered in Paris with offices across Europe, North America, Asia and the Middle East. The firm was founded in 1996 as the private equity arm of AXA before becoming independent in 2013 through a partner-led management buyout from AXA, and has since grown into one of the largest privately-held alternative asset managers globally. Ardian remains majority-owned by its employees and select institutional partners.
Investment thesis
Ardian operates across the full alternative spectrum with five core pillars: secondaries (its founding flagship strategy and the largest globally by deal volume), direct buyout (Mid Cap, Expansion and Co-Investment), private debt, infrastructure (transport, telecoms, energy transition) and real estate. The platform deploys capital across more than 30 distinct fund vehicles, with a particular emphasis on partnering with founders and family-owned businesses across Europe and selectively in North America. Ardian's secondaries franchise provides a structural advantage in deploying capital at scale through fund-level GP-led and LP-led transactions.
Recent activity
Recent realised exits include NetCo (industrials, 2026), Acousti Engineering Company of Florida (industrials, 2026), Nova Reperta (business services, 2026) and Rivalis (business services, 2026), reflecting strong 2026 distribution momentum across the mid-cap buyout franchise. The platform tracks 33 active funds, 235 active portfolio companies and 253 realised exits across its history, with continued deployment across European and selective US opportunities.
Portfolio platforms backed by Ardian made 27 researched add-on acquisitions during its ownership.
Frequently asked questions
- What investment strategy does Ardian focus on?
- Ardian focuses on Buyout, Growth, VC strategies in the private equity space.
- How many portfolio companies does Ardian have?
- Ardian has 254 active portfolio companies and 254 completed exits and 34 funds tracked on GP Intel.
- Where is Ardian headquartered?
- Ardian is headquartered in Paris, France.
- What is Ardian's assets under management?
- Ardian manages approximately €196.0B in assets under management.
- When was Ardian founded?
- Ardian was founded in 1996.
- What sectors does Ardian invest in?
- Ardian invests across TMT, Industrials, Software, Consumer, Healthcare, Financials, Business Services, Energy.
- What are Ardian's recent exits?
- Recent realized exits by Ardian include: NetCo (2026) to Eurazeo; Acousti Engineering Company of Florida (2026) to Gamut Capital Management; Nova Reperta (2026) to Tilleghem; Rivalis (2026) to Management buyback (Lionel & Damien Valdan); Trigo (2026) to Montyon Capital; Sociabble (2026) to Poppulo; Artefact (2025) to Cinven; Groupe La Centrale (2025) to OLX Group.
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Last updated October 2026 · Sourced from public filings · Report an issue