Ardian plots €4bn fifth European fund – exclusive

The vehicle is set to be launched after the manager closes on its debut Americas strategy, which has so far garnered $550m – surpassing its original $500m target.

French fund manager Ardian is set to begin fundraising for its fifth European infrastructure fund, targeting €4 billion, in the second half of this year, Infrastructure Investor has learnt.

The vehicle is understood to be preparing a launch for Q2 or Q3, after the group has finished fundraising for its inaugural Americas fund, which is set to close on $750 million.

The Americas vehicle was launched with a $500 million target, but has so far gained commitments totalling $550 million. The group made its first investment in the region in September 2016 when it bought 81 percent of a 46MW solar portfolio in Chile and Peru for $31 million and it is targeting further deals in the US, Chile, Canada and Mexico. The fund is expected to close at the end of this quarter or the beginning of Q2.

Fundraising for the €4 billion European vehicle will follow, while Ardian continues to invest its €2.65 billion predecessor – said to be about 63 percent committed. Ardian managing director Stefano Mion told Infrastructure Investor in October the fund is expected to be completely deployed by the end of this year.

Investments from the fourth fund have included oil pipeline network company SPMR, a motorway in Italy and LBC Tank Terminals, an oil storage group based in Belgium but with its largest facilities in Houston and Baton Rouge. Up to 20 percent of the fund’s capital can be invested in non-euro-denominated assets.

Ardian had not responded to a request for comment by press time.