Mark Benedetti, Ardian’s co‑CEO, observes that more European families seek partners to navigate complex markets and expand internationally, focusing on undervalued European assets versus U.S. peers. He highlights Ardian’s Secondaries & Primaries platform as a top growth area, citing recent landmark deals—Project Persephone ($3.6 billion) and Project Moonstone ($3.7 billion) —and stressing selective underwriting based on scale, complexity, relationships, and long‑term value creation. Direct investments avoid financial‑engineering theses, favoring durable businesses with strong cash flow.

AI is reshaping the investment thesis by driving demand for data‑center and digital infrastructure, while technology enhances analysis but does not replace discipline. Portfolio pressures such as higher financing costs and supply‑chain disruption are managed through scenario underwriting and close manager engagement, exemplified by the Cérélia bakery platform’s recovery after pandemic and war shocks. Benedetti identifies two mispricing hotspots: infrastructure secondaries, where buyer demand outpaces capital and new entrants lack multi‑cycle experience, and European equities, which still trade at a valuation gap versus comparable U.S. firms.

He notes rising interest from European families seeking international expansion partners, aligning with Ardian’s dual European‑North American footprint.