Ardian raises €500m fund after offering co-investments

The French private equity firm offers investors chance to bypass fees in new mid-market fund

French private equity firm Ardian has raised €500 million for lower mid-market investments in France, Italy and Germany, after offering co-investment opportunities in the new fund.

Ardian, the former private equity arm of insurance group Axa, said in a statement that it has closed Expansion Fund III at €450 million, with an additional €50 million raised for co-investment opportunities from a range of investors.

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