Mipim 2026: Ardian's Bensimon on its tie-up with Abu Dhabi fund and why it bought on New York's Fifth Avenue

Fresh from the announcement of her firm's tie-up with Abu Dhabi sovereign wealth fund Adia, Ardian's Stéphanie Bensimon sat down with CoStar News's Luke Haynes and sister publication Business Immo's Luc-Étienne Rouillard Lafond.

She spoke about why this was the right time for the secondaries specialist, which buys stakes in funds or portfolios that already exist, to move into real estate. "This is our major business. We are present in infrastructure, in [private equity] etcetera and real estate was really missing.

"So I think that [...] given the context, given the need for liquidity on the market, given the fact that we are very present in secondary in the US. So that was the perfect timing for our secondary team to really expand into the estate."

She says her clients now have more appetite for investment: "Generally speaking, we've seen especially this year more traction, more dynamism around the transaction and you've seen that we've done a lot over the recent months. So there is a trend that a lot of investors want to deploy, especially in equity in real estate. It's not back, but it's we feel it's really better and there is a lot of interest from different part of the globe."

Bensimon, who is the head of real estate for the French private investment firm, also spoke about its first property purchase in the US, a joint venture with luxury retail group Kering on New York's Fifth Avenue, where it bought 715-717 for $900 million.

"We've been thinking that we will be expanding in the US like we started in Europe because that's what that's our track record, that's what we know. And that's also the reason why we found that going to a prime location [...] – historically we've never really compromised on location – was a good bet.

"And I think we will continue to do that, trying to catch up on volume because obviously if you go to Fifth Ave and, and in the US especially volume[s] are much higher than than Europe. So that's interesting for us."

"So that's really how we adapt to the market. Retail was also something that we found interesting, especially in New York. Right now in the big cities, you've seen the big luxury [groups], even though the market is in turbulence, are looking for the right spot. And so that's where we saw that was the the right asset to start."

That's unlikely to be where Ardian finishes, as she added: "We will probably continue this year."