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Ardian closes latest infrastructure fund at €6.1 billion

Ardian closed its latest infrastructure fund, Ardian Infrastructure Fund V, at its hard cap of €6.1 billion ($6.9 billion), which was also the fund's target, a spokesman said.

Closed less than six months after it was launched, the fund will focus on rail, road, airports, energy and public infrastructure assets.

The fund attracted 125 investors from Asia, Europe, the Middle East and North America, including pension funds, insurance companies, financial institutions, high-net-worth individuals and sovereign wealth funds, Ardian said in a news release.

Investors include the $26.9 billion Texas Employees Retirement System, Austin, and $778 million Merced County (Calif.) Employees' Retirement Association.

The predecessor fund, Ardian Infrastructure Fund IV, closed at €2.6 billion in 2016.

Ardian's infrastructure team has $15 billion in assets under management.