Ardian's Jason Yao: the $19bn programme that proves the secondary market is coming of age

In these days of heightened volatility, it’s all about safety. The recent $19bn Ardian programme showed that investors are willing to pay handsomely for a solid track record

Ardian, a world leading private investment house, this month announced that its eighth-generation secondaries platform attracted a record US$19 billion of commitments from investors globally.

With particularly strong growth in Asia, where attitudes towards secondaries funds is developing strongly, the Ardian platform attracted 275 investors from nearly 40 countries.

The programme, which included US$5 billion of co-investment interests, significantly exceeded the US$14 billion raised for Ardian’s seventh generation platform in 2016.

Investors comprised major pension funds, sovereign wealth funds, insurance companies, HNWIs and financial institutions.

The fundraise highlighted how the secondaries market has matured to become an...

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