Kering monetises Fifth Avenue asset through Ardian partnership

Luxury group Kering and investment firm Ardian have announced the completion of a co-investment agreement, formalised through the creation of a joint venture centred on a real estate asset on Fifth Avenue in New York.

The building, located at 715-717 Fifth Avenue, occupies a prime position offering approximately 10,700 square metres of luxury retail space. The transaction values the asset at 900 million dollars. Kering will receive a net amount of 690 million dollars from this operation.

Real estate strategy and financial flexibility

Under this agreement, Ardian takes a majority stake of 60 percent in the joint venture, while Kering retains 40 percent. This marks the second partnership between the two groups in 2025, following a similar agreement concluded in Paris.

For Kering, this operation forms part of an active management strategy for its real estate portfolio. The aim is to monetise the value of its assets whilst securing their strategic locations for its Houses over the long term.

Jean-Marc Duplaix, chief operating officer of Kering, stated: "By continuing to execute our strategy regarding the management of our real estate portfolio, we are developing our fruitful collaboration with Ardian. This agreement once again allows us to secure a prime retail location for our Houses over the long term, whilst strengthening our financial flexibility."

Ardian establishes presence in United States

For Ardian, this acquisition represents a major strategic advance in the American market. The fund is making its first real estate investment in the US.

Stéphanie Bensimon, executive committee member and head of real estate at Ardian, expressed her delight at continuing the partnership with Kering: "715-717 Fifth Avenue offers us exceptional visibility and long-term value. This is Ardian's first real estate investment in the United States, marking our strategic expansion into this particularly attractive market."

The operation underscores Ardian's expertise in structuring innovative partnerships and acquiring assets deemed fundamental. Omar Fjer, head of real estate France, noted: "We are fully committed to acquiring and managing prime assets in the most sought-after locations, which deliver lasting value."

Ardian is a leading private investment firm of French origin with a global reach, managing and advising on assets on behalf of its investors (institutions and private individuals). Founded in 1996 and initially known as AXA Private Equity, Ardian became independent in 2013. The firm is active in several areas, including private equity (fund of funds, direct funds), infrastructure, real estate and private debt.

This article was translated to English using an AI tool.

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