The Aztec Group has been selected by Ardian to administer its eighth-generation secondaries platform, ASF VIII. The platform will be administered from the Group’s Jersey office.
Headquartered in Paris, Ardian is a global private investment firm with $96bn in AUM. The firm’s fund of funds platform, which covers primary and secondary fund of funds, has $53bn 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 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 global recession, as they look to rebalance 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 more than $46bn across its secondaries fund of funds portfolio.
Mourant advised Ardian on ASF VIII, with its Jersey funds team working alongside lead counsel Linklaters to deliver the platform.