Ardian on road with fourth debt fund

The fund is the first debt vehicle to launch since Ardian spun out from AXA.

Ardian is in the early stages of raising its fourth private debt fund according to regulatory filings.

Documents filed with the Luxembourg regulator show Ardian Private Debt IV was registered on 28 June as a limited partnership.

The fund is the firm’s first debt vehicle since it became independent of French insurer AXA in 2013. Its third fund, AXA Private Debt III, launched in 2013 and reached a final close in July 2015 above target at €2.03 billion.

Its previous vehicle aimed to provide financing to private equity-backed companies in Europe with sizes ranging from €40 million to €300 million and could offer both unitranche and subordinated debt.

Ardian’s credit business is led by Olivier Berment and Mark Brenke, both co-heads of private debt based in London.

Earlier in August, PDI revealed Yacine Mancer left the firm’s investor relations team. He was senior investor relations manager for the Middle East.

Ardian declined to comment on the status of the latest debt fund.