Ardian Raises $3.2 Billion for Its Biggest PE Co-Invest Fund

Ardian SAS, the $166 billion private markets firm, gathered cash for its biggest-ever fund to co-invest in deals alongside buyout managers.

The sixth iteration of the Ardian Co-Investment Fund raised $3.2 billion, including commitments from its separately managed accounts, according to a statement Monday.

It will target deals globally, with a particular focus on “resilient” investments in business and health-care services, software and tech-enabled firms, Patrick Kocsi, co-head of co-investment at Ardian, said in an interview.

About a quarter of the capital raised came from family offices and high-net-worth individuals, he said.

Private equity firms, known as sponsors, ...