Kuwait’s Wafra Takes Stake in European Asset Manager Ardian (1)

Wafra Inc., a $28 billion money manager owned by the state pension agency of Kuwait, has purchased a minority stake in private markets investment firm Ardian.

Ardian — which manages $192 billion — invests across private equity, real assets and private credit. Wafra made the investment through its strategic partnerships program, which buys stakes in established alternative asset managers, according to a statement.

New York-based Wafra has been actively searching for ways to expand its private markets exposure in secondaries and real assets, according to the statement. Terms of the deal weren’t disclosed.

“Ardian is an attractive strategic ...