Wafra, owned by the Public Institution for Social Security of Kuwait (PIFSS), has completed a minority investment in French private equity firm Ardian.
Established in 1996 in France as a buyout firm, Ardian has grown to a private investment firm with $192bn of assets under management.
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The company provides customised investment solutions, providing its 1,860 clients with opportunities in private equity, real assets, and private credit.
Last year, Ardian raised the largest ever secondaries fund (ASF IX) and $20bn for its infrastructure platform, which invests in essential infrastructure across Europe.
The company also raised €3.2bn ($3.6bn) for its mid-cap private equity strategy, focusing on mission-critical businesses.
Wafra said that the investment is part of its Strategic Partnerships programme, designed to collaborate with scaled alternative asset managers.
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By GlobalDataThe minority investment in Ardian aims to support Wafra’s continued growth and expansion across private markets globally.
Wafra chief investment officer Adel Alderbas was quoted by Bloomberg as saying: “Ardian is an attractive strategic partner for us because it is one of the few asset managers that has demonstrated longevity and consistency of its track record across all asset classes.
The firm has “grown organically for a very long time and have done a great job at it,” he added.
Wafra is a global alternative investment manager, based in New York, and operating in London and Bermuda, with around $28bn of assets under management.
The company has been providing capital solutions for over 40 years, building partnerships with asset owners, companies, and management teams.
It has been investing in asset management businesses and seeking opportunities to expand its private markets exposure, particularly in secondaries and real assets.
Wafra said that its decision to invest in Ardian was driven by Ardian’s scale, diversified strategies, and performance across market cycles. It also believes that
Ardian closely aligns with its focus on partnerships that offer collaboration opportunities for its global investor network.
In July, Ardian introduced Ardian Access, an investment vehicle designed to provide accredited US investors direct access to private equity opportunities.
