Antin Infrastructure Partners

Antin Infrastructure Partners is a private equity firm with offices in Paris, London, New York, Luxembourg and Singapore.[3] It has EUR 30.6 billion in assets under management as of December 2022.[4] Antin invests in the energy & environment, digital technology, transportation, and social infrastructure sectors.[5]

Antin Infrastructure Partners
TypeSociété Anonyme
Euronext Paris: ANTIN
IndustryPrivate Equity
Founded2007
Key people
  • Alain Rauscher (CEO)[1]
  • Mark Crosbie (deputy CEO)[1]
  • Melanie Biessy (COO)[2]
AUM€30.6 billion (December 2022)
Websitewww.antin-ip.com

History

Antin was founded in Paris in 2007.[6][7] Initially sponsored by BNP Paribas, the company bought out the bank's 40 per cent stake in 2012. Led by former banker Alain Rauscher, Antin manages four funds for infrastructure investment in Europe and North America, each with a focus on Energy & Environment, Digital technology, Transportation, and Social infrastructure sectors.[5] The company owned one third of all rolling stock in the UK in 2014.[8] By late 2022, Antin had more than 190 partners and employees.[5]

In 2021, Antin became a publicly-traded company after listing in an IPO on Euronext Paris. Antin's initial public offering on 24 September 2021 was the highest-volume Euronext IPO in 2021. At the close, the company was thus valued at EUR 5.1 billion,[9][10] whereas it was estimated at EUR 4 billion before the IPO.[11]

Antin sponsors a research chair in private equity and infrastructure at HEC Paris, which in 2019 was held by Denis Gromb, who has been Professor at the Finance Department.[12] The firm also finances the chair of infrastructure finance at Italian Bocconi University. The chair is currently held by Stefano Gatti.[13]

Investments

In September 2014 it was announced that the Israeli conglomerate Delek Group was selling UK freeway services company Roadchef to Antin for £153 million.[14]

Between 2014 and 2015, Antin acquired a 99% stake in Central Area Transmission System, a natural gas transportation and processing system, from BG Group.[15]

In July 2018, Antin announced that it was seeking to raise €5 billion for its fourth fund, having raised €3.6 billion for its third in 2016.[16] In April 2019, more than €2.5 billion had been committed.[17]

In September 2018, Antin was reported as having raised €8 billion, and to have invested in 22 companies.[18] In August 2019, Antin sold a minority stake in Eurofiber, a Dutch fiber-optic network, to PGGM,[19] after having bought the company for 875 million Euros in 2015.[20]

In late 2019, Antin acquired the U.S. district energy assets of Veolia to establish Vicinity Energy.[21]

In late 2020, Antin was reported as acquiring Babilou, a French nursery operator,[22] and Hippocrates Holding, an Italian pharmacy network.[23] In 2021, it acquired Pulsant, a provider of datacenter services.[24]

On September 24, 2021, its IPO was the largest to date on Euronext for 2021, with Antin shares set at €24 per share, then surging to close at €30, giving the firm a value of about 5.1 billion euros.[25] Prior to its IPO, the firm was valued at four billion Euros.[26]

Controversies

In January 2023, a social infrastructure provider owned by Antin[27] - The Hesley Group - was the subject of an investigation by BBC News. BBC News reported that children in care were punched, locked out naked, and had vinegar poured on cuts.[28] The complaints were raised 3 years prior to the closure of the children's home. The BBC commissionned research that found more than a quarter of all children's home placements in England and Wales were run by private equity firms and criticised the alleged lack of accountability in the sector.

References

  1. "European Infrastructure Investor Antin Considers IPO". Bloomberg.com. 5 July 2021.
  2. "Women of Influence: Infrastructure". Venture Capital Journal. 2022-07-01. Retrieved 2023-02-24.
  3. Majunke, Sven (2021-07-31). "Latham & Watkins berät Antin beim Verkauf von amedes". MAJUNKE Consulting (in German). Retrieved 2023-02-24.
  4. "Antin Infrastructure Partners: Antin Reaches More Than €30bn in Assets Under Management". FinanzNachrichten (in German). 2023-03-17. Retrieved 2023-03-17.
  5. Wallstreet Online (2022-11-04). "Strong Growth In 3Q 2022". wallstreet-online.de (in German). Retrieved 2023-02-24.
  6. Mkandawire, Vinjeru (2019-05-04). "Infrastructure giant Antin lining up $1bn sale of pipeline between the North Sea and Teeside [sic]". The Telegraph. Retrieved 2023-02-22.
  7. "Antin Infrastructure Partners". Infrastructure Finance & Investment. Retrieved 2023-02-22.
  8. Chassany, Anne-Sylvaine (2014-06-09). "Antin raises €2bn fund to buy European infrastructure". Financial Times. Retrieved 2023-02-22.
  9. "Antin IPO will inspire private equity copycats". Reuters. 2021-09-24. Retrieved 2023-02-22.
  10. "Pourquoi les fonds d'investissements non-cotés vont en Bourse". LEFIGARO (in French). 2021-09-24. Retrieved 2023-02-22.
  11. Drif, Anne (2021-09-15). "Le fonds Antin vise les 4 milliards d'euros de valorisation en Bourse". Les Echos (in French). Retrieved 2023-02-22.
  12. "Private Equity and Infrastructure Antin IP Research Chairs". HEC Paris. Retrieved 13 September 2019.
  13. Molteni, Maria Elena (2021-03-29). "Serra, Algebris: il modello public company ha fallito". Fortune Italia (in Italian). Retrieved 2023-03-13.
  14. "Delek Group to sell Britain's Roadchef for $250 million". Reuters. Thomson Reuters. 14 September 2014. Retrieved 13 September 2019.
  15. Denina, Clara; Nasralla, Shadia (4 September 2019). "RPT-Antin Infrastructure hires banks to sell UK gas pipeline". Thomson Reuters. Retrieved 4 November 2019.
  16. Espinoza, Javier (12 December 2016). "Antin raises €3.6bn fund for European infrastructure assets". Financial Times. Retrieved 28 October 2019.
  17. Bentley, Zak (18 April 2019). "Antin halfway to fund IV target with first close". Infrastructure Investor. Retrieved 13 September 2019.
  18. Berge, Aslak (3 September 2018). "Antin Infrastructure Partners to acquire Sølvtrans from Oaktree". Salmon Business. Retrieved 15 January 2020.
  19. "PGGM buys minority stake in Eurofiber from Antin". reuters.com. September 28, 2021. Retrieved November 22, 2021.
  20. Balezou, Myriam; Nair, Dinesh (30 August 2019). "Antin Explores Sale of Dutch Network Owner Eurofiber". Bloomberg LP. Retrieved 15 January 2020.
  21. "Vicinity Launches as Largest District Energy Provider in America". Vicinity. 30 December 2019. Retrieved 26 January 2022.
  22. "Babilou strikes a deal with Antin, underwritten by BNPP and J.P. Morgan".
  23. "Antin Infrastructure to buy Italian pharmacy network Hippocrates". Reuters. 16 November 2020.
  24. "Antin Infrastructure Partners acquires Pulsant".
  25. Gross, Anna (September 24, 2021). "Antin IPO will inspire private equity copycat". ft.com. Retrieved November 22, 2021.
  26. "Antin: French group opens the door on private infrastructure". ft.com. September 15, 2021. Retrieved November 22, 2021.
  27. https://www.antin-ip.com/portfolio/investments
  28. https://www.bbc.co.uk/news/uk-63792458


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