Ardian has partnered with Legal & General to provide private equity exposure to 5.6 million UK defined contribution pension savers through Legal & General's Private Markets Access Fund. This initiative represents a significant expansion of private markets access within UK DC schemes, as pension providers seek diversification and long-term value creation opportunities for retail investors.

Under the partnership, Ardian's Co-Investment platform will construct a diversified portfolio of private companies across sponsors, sectors, geographies, and company sizes. The co-investment team, led by Alexandre Motte and Patrick Kocsi, reviews hundreds of opportunities annually and invests alongside leading private equity sponsors globally. Legal & General stated that Ardian strengthens the fund's manager line-up as it builds out its private markets allocation within a DC-appropriate framework.

The agreement underscores growing momentum behind integrating private equity strategies into defined contribution pension structures, as asset managers refine vehicles designed to meet liquidity, governance, and risk constraints specific to the UK DC market. The first private equity investment through the partnership has already been completed, marking a milestone in democratizing access to private markets for millions of retail investors.