French insurer AXA is selling the rest of its 10% stake in private markets investment firm Ardian, subject to customary closing conditions and regulatory approvals.
Existing shareholders Wafra, a New York-based alternative investment firm, and French insurer Assurances du Crédit Mutuel (ACM) are both to increase their stake.
AXA spun off its private equity arm Ardian in 2013 but retained an initial 23% stake. AXA’s remaining 10% stake is set to be sold off between late 2026 and early 2027.
Ardian said its employees will continue to remain the largest shareholder group, accounting for around 40% of shares, and AXA will maintain its long-standing partnership as one of the principal investors in Ardian’s funds.
Dominique Senequier, CEO & founder of Ardian, said, “I am grateful to see this 30-year partnership continue to flourish with AXA’s renewed faith in our strategy through its investments as a client, alongside the strengthened demand from our internationally diverse shareholder base.”
Mark Benedetti, Co-CEO of Ardian, said, “Opportunities to acquire Ardian shares arise infrequently and demand is consistently oversubscribed.”
“The deepening of ACM and Wafra’s respective investments in Ardian, in tandem with AXA’s continued partnership as one of our leading clients, is a strong endorsement of the business that has been built up over the past three decades and where we now stand today as a global investment firm with $200bn AUM.”
Adel Alderbas, chief investment officer at Wafra said: “We were delighted to have the rare opportunity to partner with Ardian last year and have collaborated closely with the firm’s leadership since then.”
“Even in the short time since becoming a shareholder, we’ve already experienced early wins demonstrating the full breadth of our strategic capabilities and unique network of global institutional investors.”
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