20/01/2010 Antin Infrastructure Partners announces second closing at €515 million
With an additional €215 million, it raised total commitments to €515 million, more than half of the fund’s target, from leading Scandinavian, German and French investors.
London, 20 January 2010 – Antin Infrastructure Partners announces second closing at €515 million.
Antin Infrastructure Partners (Antin IP) completed its second closing on 18 December, 2009. With an additional €215 million, it raised total commitments to €515 million, more than half of the fund’s target, from leading Scandinavian, German and French investors.
Commenting on the closing Alain Rauscher, Antin IP’s founder and CEO said: “This achievement is the result of clear independent governance, a unique mix of financial and industrial expertise combined with a focused investment strategy on the Euro zone.”
Antin IP has already invested in four companies for an aggregate commitment of €240 million i.e. around 25% of its target fund size:
Mark Crosbie, Antin IP‘s Managing Partner said: “We have created a well diversified portfolio of infrastructure assets in eight European countries. Each of our transactions were executed following the onset of the credit crisis and ensuing recession with the downturn being taken into consideration in terms of price, governance and downside protection. The portfolio’s expected IRR (Internal Rate of Return) and yield are ahead of the fund’s target.”
Given the strong indications of interest received from a number of other investors, Antin IP expects a third close in the course of the first quarter of 2010. Target fund size will be maintained at €1 billion.
Global Private Equity is the placement agent of the fund.
About Antin Infrastructure Partners
Antin Infrastructure Partners is BNP Paribas Investment Partners’ dedicated partner for managing infrastructure funds with a focus on investing in infrastructure assets in Continental Europe. As of 20 January, 2010, total commitments amount to €515 million and the target size is €1 billion. The fund is managed by a Management Company that maintains strict independence and is 60% owned by its partners and 40% by BNP Paribas Investment Partners. The investment team brings together expertise from infrastructure strategics, mergers and acquisitions, financing and private equity.
About BNP Paribas Investment Partners
BNP Paribas Investment Partners (BNPP IP) is a global asset manager. Following the integration with Fortis Investments (FI), it is set to become a top tier player in the global arena and the fifth-largest European asset manager with €522 billion* in assets under management and advice. It will have a wide-reaching geographic presence, with some 5000** professionals in 45 countries throughout Europe, Asia and the Americas. It will be a client-focused organisation, with around 600 client-facing staff serving institutional and distribution clients in 70 countries, including its five core markets (France, Italy, Belgium, Luxembourg and the Netherlands).
*Figure as of 30 September 2009. BNPP IP: €359 billion; FI: €163 billion
** BNPP IP: 2600 employees in 34 countries; FI: 2300 employees in 35 countries