Abu Dhabi Investment Authority (Adia), one of the world’s largest sovereign wealth funds with assets estimated at more than $1 trillion, has partnered with global private investment firm Ardian to launch a new real estate secondaries platform, highlighting how Gulf investors continue to expand global dealmaking despite heightened geopolitical tensions in the Middle East.
The platform will focus on acquiring stakes in existing real estate funds and property portfolios from investors seeking liquidity — a segment known as real estate secondaries. The strategy has gained traction globally as rising interest rates, valuation resets and tighter financing conditions prompt investors to rebalance portfolios.
Ardian said transaction volumes in the real estate secondaries market surged to a record $20 billion in 2025, reflecting growing demand from institutional investors seeking liquidity and portfolio restructuring opportunities.
The partnership marks another significant step in Ardian’s efforts to expand its global secondaries business and deepen relationships with sovereign wealth investors in the Gulf.
“This platform reflects our conviction in real estate secondaries as an attractive and growing market,” said Vladimir Colas, executive vice-president and co-head of Secondaries, Ardian “We have been closely studying the market for some time and believe now is a compelling moment to enter the sector and create significant value for investors.”
Colas said combining Ardian’s established secondaries platform with deep real estate expertise will allow the partnership to access a wide range of opportunities globally while offering investors detailed insights into the asset class.
“With Adia, we are well positioned to capitalise on emerging opportunities and deliver value in a market that is evolving rapidly,” he said.
Mohamed Al Qubaisi, executive director of the Real Estate Department at Adia, said Ardian has built a strong track record in the secondaries market and that the partnership aligns with Adia’s long-term investment approach.
Ardian executives said the new platform builds on a long-standing relationship between the firm and Adia across several investment strategies.
“Our relationship with Adia has been built over many years across multiple strategies,” said François Aïssa Touazi, member of the Executive Committee and head of Investor Relations (Mena), Ardian “This expansion into real estate secondaries reflects the depth of trust and collaboration we have developed together.”
From Adia’s perspective, the move reflects growing institutional interest in secondaries as an investment strategy that can provide diversification and access to mature real estate assets.
“This new platform reflects our confidence in the growth potential of real estate secondaries and the strength of the long-standing relationship between Adia and Ardian,” Al Qubaisi said.
The initiative also underscores how Gulf sovereign investors are continuing to pursue global investment opportunities even as geopolitical tensions rise following the recent US-Israeli conflict with Iran.
Regional investors have remained active across sectors including technology, private equity and infrastructure.
Earlier this week, Abu Dhabi-based financial services holding company Judan Financial Services Holding agreed to acquire a majority stake in global investment firm Alpha Wave Global, whose portfolio includes stakes in major technology companies such as SpaceX, Anthropic and OpenAI.
The new Adia-Ardian platform also reflects a broader trend of international asset managers strengthening their presence in the Gulf. Ardian itself opened an office in Abu Dhabi in 2023 and has partnered with Mubadala Investment Company on private asset investments.
Founded in 1996, Ardian manages or advises around $200 billion in assets across private equity, private credit and real assets through about 20 offices worldwide. The firm is one of the largest global investors in the secondaries market and raised a record $30 billion for a secondaries fund in 2025.
Once considered a niche strategy, secondaries investing has expanded rapidly in recent years as institutional investors increasingly use the approach to manage liquidity and rebalance portfolios.
