Record-Breaking $19 Billion Fund to be Administered in Jersey
Leading independent fund and corporate services provider, the Aztec Group, has been selected by Ardian to administer its eighth-generation secondaries platform, ASF VIII (“the Fund”), now the world’s largest secondaries platform. The platform will be administered from the Group’s Jersey office.22 June 2020
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.
Aztec Group has provided a range of administration, accounting and governance services to Ardian from its Jersey and Luxembourg offices since 2013, and now administers over $46 billion across its secondaries fund of funds portfolio.
Specialising in alternative investments, the Aztec Group employs more than 950 people and administers over €370 billion of assets for more than 240 clients, including 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:
“We’re delighted to have worked with Ardian on the extremely successful fundraise for their record secondaries platform. This is a further vote of confidence in our team’s experience of this sector, and in Jersey as a leading centre of administrative expertise for international investment managers. We look forward to building on our positive partnership with Ardian as we continue to administer this global platform.”