French manager Ardian embarks on IPO
Paris-based private equity investor Ardian has started preparing an initial public offering, Bloomberg reported, potentially adding it to a growing list of publicly traded private equity firms.
The asset manager, who manages around $ 120 billion in assets under management, is reportedly speaking with advisers to decide when he could possibly enroll. Talks are said to be in their early stages, and it is not yet confirmed where they will be made public.
The proposed listing comes a little over two months after the listing of Antin Infrastructure Partners in Paris after having assessed the top of its range at a valuation of 4.1 billion euros. British company Bridgepoint also became public in July with a first blockbuster in London. Swedish companies EQT and Tikehau, another Paris-based company, also went public in 2019 and 2017 respectively.
Of these companies, Ardian would be the largest in terms of AUM. Earlier this year, the GP hit a close of 7.5 billion euros on its seventh buyout fund, including 1 billion euros of co-investment, an increase of over 60% over its predecessor .
A recent PitchBook analyst note reveals that in the United States, where many other private equity firms are publicly traded, stocks of the largest asset managers have outperformed the S&P 500 over the past year.
Featured Image by patpitchaya / Getty Images