French PE firm Antin IP raises 1.2 bln-euro fund, in-line with targets

Antin Infrastructure Partners SAS

30/11/2023 06:00

By Mathieu Rosemain
       PARIS, Nov 30 (Reuters) - French private equity firm
Antin Infrastructure Partners  ANTIN.PA  has met a target to
raise 1.2 billion euros for its latest fund tied to energy
transition despite headwinds for fundraising in the sector, it
said on Thursday. 
    The fund, dubbed NextGen, is set to be invested in Europe
and North America and is the first of its kind at Antin IP,
which has about 30.8 billion euros ($33.8 billion) of assets
under management. 
    It has already spent an undisclosed amount from the NextGen
fund in companies including electric vehicle charging groups and
a tyre recycling joint venture with Enviro and Michelin
 MICP.PA .
    Antin said NextGen was backed by investors from Europe,
North America, Asia and the Middle East, including new and
existing investors from its funds. 
    "We're facing a market that's slowing down," Chief Executive
Alain Rauscher said in an interview. "But we're clearly one of
the winners in this slowdown," he added, brushing off Antin's
stock price fall of 46% over the last twelve months. 
    Asked about the fundraising for the fifth generation of its
Flagship fund, which secured 8.6 billion euros of commitments at
the end of the third quarter, Rauscher said he was confident
that it could reach the set target of 10 billion euros or more. 
    "We're confident that we'll raise, I'd say, between 10 and
12 (billion), and honestly, closer to 12 (billion) than 10," he
said. 
        

($1 = 0.9114 euros)

 (Reporting by Mathieu Rosemain; editing by Anousha Sakoui,
Kirsten Donovan)
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