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22 June 2020

Aztec Group to administer record-breaking $19 billion secondaries fund

ASF VIII is now the world's largest secondaries platform

We’ve been selected by Ardian to administer its eighth-generation secondaries platform, ASF VIII (“the Fund”), now the world’s largest secondaries platform.

Headquartered in Paris, Ardian is a leading global private investment firm with $96 billion in AUM. The firm’s Fund of Funds platform, which covers both primary and secondary fund of funds, now has $53 billion in AUM, with an exposure to more than 10,000 portfolio companies through 1,600 underlying funds.

The Fund attracted commitments from 275 investors in nearly 40 countries, including major pension funds, sovereign wealth funds, insurance companies, high net worth individuals and financial institutions. The Fund will offer necessary liquidity to investors against the backdrop of a major global recession, as they look to re-balance private equity portfolios and seek yield opportunities for savers.

We’ve provided a range of administration, accounting and governance services to Ardian from our Jersey and Luxembourg offices since 2013 and our teams now administer over $46 billion across its secondaries fund of funds portfolio. Across the Group, we administer over €89 billion across various secondaries and fund of fund asset classes such as private equity and infrastructure.

Michelle McNaney, Co-Head of Private Equity in the Aztec Group’s Jersey office, commented:

“Congratulations to Ardian on a significant and extremely successful fundraise, reflecting the growth of the secondaries market and its attractiveness to investors looking for liquidity options. We’re delighted to have the opportunity to further apply our knowledge and experience of the secondaries market, working closely with one of the world’s leading investment managers.”


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