Changing values in the private equity industry
The prevailing trend in the private equity industry is toward size. With the growing number and increased volumes of funds, the assets under management of the largest asset managers have also grown significantly in recent years. Between 2013 and 2017, Ardian’s assets under management grew from $36 billion to $65 billion, at the same time that the number of employees increased by 62 percent, from 290 to 470. However, this is not an Ardian-specific phenomenon — it affects the entire industry. Preqin estimates that the private equity industry now employs over 50 percent more people than it did ten years ago. Similarly, the average fund size increased by a factor of 2.4 since 2000 to $517 million in 2017.
However, these changing dimensions also present challenges, especially with regard to the people the industry employs. Against this backdrop, in order to further promote the growth of our industry and build strong and sustainable investment companies, it is of
It is also essential to focus on values, virtues and the people themselves.
Private equity is first and foremost a “people’s business”. To build a strong investment company and achieve sustainable success, it is essential to attract and retain the best people. In order to continue to strengthen the European private equity industry as a player in the global economy, we must continue to invest in our people, especially the younger generation. Ardian was built by young and ambitious people who have grown with the company. The “Ardian project” has welded them together, and money is not the only motivation for the next generation of management. At Ardian, we always give great responsibility to young talents and this bet, bold at first sight, has proven to be very successful for us.
We must ensure that the values of our growing industry are in line with those of the “millennial” generation, because they are our CEOs of tomorrow. In this sense, it is important to live values, embrace diversity, promote youth and share. Or to put it briefly: to put people at the center.
The European private equity industry has a promising future and great growth prospects. However, for further sustainable growth, private equity companies need to further develop their values and fulfill their role as responsible actors in society.
About Dominique Senequier
Senequier studied economics at the Ecole Polytechnique; DEA, University of Paris (France). She was one of the first seven women to enroll at École Polytechnique in 1972, the first year women were admitted to study there. She holds an advanced degree in Banking and Monetary Economics from the University of Paris Sorbonne. She then served as a director of Hewlett-Packard, a post from which she resigned in March 2012. Since then, she has been managing director of Ardian (formerly part of the AXA insurance group). Ardian employs 300 people who manage 50 active funds.
Senequier was ranked 98th on Forbes magazine’s list of the 100 most powerful women in the world in August 2011. In 2009, she ranked 50th on the same list. Dominique Senequier was made a Knight of the Legion of Honor in 2012.