Europe-focused private equity firm Antin Infrastructure Partners has completed one of the largest ever infrastructure fundraises dedicated to the region by holding a €2bn final close for its second fund.
Antin closed the vehicle on its hard cap, easily exceeding the €1.5bn target and wrapping up the raise in less than a year. It said more than 60 LPs committed to Antin Infrastructure Partners II, which will continue its debut fund’s strategy of targeting investments in the energy, transport and telecoms sectors.
Antin’s debut vehicle has been used to invest in nine portfolio companies since closing on €1.1bn in October 2010. The firm added that Fund I was on track to deliver returns in excess of its original target, which was a target yield of five per cent and IRR of 15 per cent.
Managing partner Mark Crosbie said, “Our ability to reach the hard cap of €2bn 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 re-investment from existing investors with a re-up rate in excess of 70 per cent, 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.”
Deals made with Fund I to date include investments in concession port company manager Euroports, railways rolling stock leasing company Porterbrook and French oil storage company Pisto.
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