Hermès Places Cash in Investment Fund

The French luxury firm participates in fund recently raised by Ardian, formerly known as Axa Private Equity.

PARIS — Hermès International is among the new investors in the fund recently raised by Ardian, the private investment company formerly known as Axa Private Equity, to invest in mid-cap European companies.


“We have placed some of our cash flow in an entity that manages the funds of large international operators,” a spokeswoman for Hermès said, without providing additional details.


Ardian announced earlier this month that it had successfully closed its LBO Fund V, raising 2.41 billion euros, or $3.32 billion at current exchange, with additional co-investment opportunities of up to a further 400 million euros, or $551 million.


It said 24 percent of the new fund has been committed across six European mid-market transactions, including four investments in companies including Riemser, a German specialty pharmaceuticals company, and Fives, a French industrial engineering group.