Ardian Infrastructure Fund VI (AIF VI)

Ardian Infrastructure Fund VI (AIF VI) is a flagship infrastructure core‑plus vehicle managed by Ardian, seeking to build and scale essential infrastructure assets across Europe and selectively in North America. It follows the firm’s strategy of combining financial rigor with deep industrial and operational expertise to unlock value in long-lived infrastructure. By targeting sectors such as transport networks, utilities and energy transition, and digital infrastructure, the fund aims to deliver stable, inflation‑linked returns in an evolving macro environment. The fund is capitalized with a target close of around €10 billion (with a hard cap up to €12 billion), with a net IRR target in the range of 12 % to 15 %. AIF VI continues Ardian’s thematic emphasis on sustainability, decarbonization and digitalisation — applying data analytics, operational improvement and ESG integration across its portfolio. Its investments already include stakes in renewable energy platforms (e.g. Akuo), waste / circular economy (Attero), data centers (Verne) and a significant shareholding in Heathrow Airport. Geographically, the fund focuses on OECD Europe as its primary investment zone, with flexibility to deploy up to ~20 % outside Europe (particularly North America) where opportunities merit. This geographic balance allows the strategy to capitalize on both core European infrastructure dynamics and the selective growth pockets elsewhere. From a risk / return standpoint, AIF VI targets stable cash flows from infrastructure, combined with operational value creation upside. The fund will generally invest in brownfield or mid-life (core‑plus) assets rather than greenfield early-stage development. It seeks to partner with experienced industry operators, leverage scale in capital expenditure, and apply digital / engineering practices to improve efficiency and carbon metrics.