Ardian launches fourth Asian FoF – exclusive

Ardian Capital Asia IV had attracted $66.4m-worth of commitments as of 10 May, according to documents seen by PEI.

Ardian is looking to raise about $200 million for an Asian fund of funds, Private Equity International understands.

Ardian Capital Asia IV had attracted $66.4 million of commitments as of 10 May, according to an Ardian document outlining the firm’s funds and seen by PEI. The fund is targeting a 20 percent net internal rate of return.

The firm declined to comment. It is unclear whether the target had changed since the documents were published.

Ardian’s previous Asian fund of funds, Axa Capital Asia III, was raised prior to its spin-out from Axa Private Equity in 2013. The 2012-vintage was targeting around $500 million-$600 million and gathered at least $300 million in commitments, according to S&P Global Market Intelligence.

The Paris-based firm has offices in Singapore and Beijing in Asia. Its 60-strong fund of funds team deployed over $15 billion in primary commitments and secondaries transactions between 2014 and 2016, its website noted.

There are currently nine 2017-vintage Asia-focused funds of funds in market, PEI data show. The largest of these is Asia Alternatives Capital Partners V, which held a final close on over $1.8 billion in September.