Antin Infrastructure Partners hits hard cap in raising new €2 billion fund10 June 2014
Antin Infrastructure Partners (“Antin”), a leading independent Private Equity firm focused on European infrastructure is pleased to announce the final closing (at hard cap) of its second fund, Antin Infrastructure Partners II (the “Fund”), with total commitments of €2 billion. The Fund, one of the largest infrastructure funds focused solely on Europe ever to be raised, will allow Antin to continue to pursue its successful strategy of investing in infrastructure across Europe.
The fundraising process was completed in less than a year and significantly exceeded its initial target of €1.5 billion. The Fund comprises over 60 investors, with both new and returning limited partners from Fund I. Investors include leading institutions from Europe, North America, Asia and Australia and comprise pension funds, insurers, asset managers and sovereign wealth funds. The Fund will follow the same investment strategy as Antin’s first fund.
Founded in 2007 and fully-owned by its Partners, Antin has become a leading participant in infrastructure investing, having pursued a focused investment strategy based upon securing controlling stakes in European infrastructure companies. Through the firm’s first fund, which secured aggregate commitments of €1.1 billion, Antin has built up a balanced and diversified portfolio of nine companies across three target sectors: energy, transport and telecoms. Antin aims to create value through active investment management, leveraging its deep industry insight, relationships and significant capital base. Antin’s first fund is on track to deliver returns in excess of those targeted at launch, through a focus on proprietary deals and a valued-added approach to asset management.
Alain Rauscher, CEO and Managing Partner of Antin Infrastructure Partners, declared: “We are delighted to have raised a €2 billion fund from a diverse and prestigious group of investors in less than a year. This new fund clearly establishes Antin Infrastructure Partners as Europe's leading independent infrastructure investment firm. The amounts committed demonstrate that Antin Infrastructure Partners' independence and differentiated, focused investment strategy are true assets, confirming that investors share our conviction that the European infrastructure space offers huge opportunities to create value. This new fund will allow us to continue to capture investment opportunities in infrastructure across Europe."
Mark Crosbie, Managing Partner of Antin Infrastructure Partners, added: "Our ability to reach the hard cap of €2 billion is a validation of our investment approach, a sign of confidence in our ability to generate strong returns and a true testament to the quality of our team. We are very pleased to see significant reinvestment from existing investors with a re-up rate in excess of 70%, and we are also pleased that we have attracted a large number of new LPs from across the world. It was clear that our focus on both active value creation and consistent generation of a strong cash yield generation were key attractions for investors in the Fund.”
Campbell Lutyens acted as placement agent and King & Wood Mallesons SJ Berwin advised Antin Infrastructure Partners on legal and tax aspects.