Ardian closed its latest flagship control buyout fund, Ardian Buyout Fund VII, at €7.5 billion ($8.8 billion), a spokeswoman confirmed.
The target amount was €6 billion, she said.
The fund raised €6.5 billion for the fund and an additional €1 billion in limited partner co-investments.
The fund focuses on health care, the food value chain, technology and services and will invest in high-quality Western European businesses worth up to €2 billion. The fund will also target North American businesses that are looking to expand in Europe and/or Asia.
Half of the fund's value has already been committed to 11 investments.
"Importantly, our investments have shown significant resilience across the past year, and we continue to see compelling opportunities in the market," Philippe Poletti, member of the executive committee and head of Ardian buyout, said in a news release. "Our focus on businesses with strong fundamentals in resilient sectors means we are well-positioned to invest in the next generation of global champions."
Investors included New Jersey Division of Investment, which committed up to €125 million to the fund and a further €50 million in a co-investment sidecar vehicle alongside the fund in 2019.
Ardian has $110 billion in assets under management and advisement.
