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 background, it is essential to focus on values, virtues and people in order to further promote the growth of our industry and build strong and sustainable investment companies.

The private equity industry acts in the interests of two types of clients: On the one hand, there are the investors, who in turn represent the interests of millions of clients. On the other hand, it is the entrepreneurs who decide who should support them in the implementation of their growth plans. Both customer groups are looking for suitable partners who share their values.

The situation is similar when it comes to selecting employees. Private equity is first and foremost a "people's business".