BNP Paribas-backed Antin Infrastructure Partners raises €1.1bn


Antin Infrastructure Partners, an infrastructure-focused private equity firm backed by French banking group BNP Paribas, has closed its latest fund on €1.1bn, exceeding its €1bn target.

The fund, which is 40 per cent-owned by BNP Paribas, reached a second close on €515m in January 2010 with a final close predicted for the first quarter of the year, delayed by a difficult fundraising environment.

Antin IP CEO and managing partner Alain Raushcer said, “The fund raising was initiated at the beginning of 2009, in an extremely difficult market. We were, however, able to attract some high quality investors early on, which paved the road for the success of our placement.”

The fund is a ten year closed-ended funded, focused on brownfield, non-listed assets within the Eurozone, aimed at delivering target yields of five per cent and a target IRR of 15 per cent.

Four investments totalling €240m have already been made through the fund, including concession port company manager Euroports, railways rolling stock leasing company Porterbrook, French oil storage company Pisto, and Croatian joint stock company Bina Istra, which holds a concession to construct and manage the Istrian Y motorway.

The fund attracted commitments from Scandinavian, French, German, Swiss, UK, Canadian and Australian investors.

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