ANTIN // 2021 Universal Registration Document
FLAGSHIP The Flagship strategy is the first Fund Series Antin launched when the firm was founded in 2007. The strategy is currently deploying its fourth fund with €6.5 billion in committed capital and plans to launch its fifth fund in 2022 with target commitments of €10-11 billion. The Flagship strategy was launched with the vision of applying a private equity toolkit to the infrastructure asset class. In doing so, Antin played a pioneering role in defining, shaping and expanding the private infrastructure asset class, which was at a nascent stage at the time. The Flagship strategy follows a value-add investment approach that focuses on growing and transforming infrastructure businesses to generate attractive risk-adjusted performance for its Fund Investors. This approach has resulted in strong investment returns since its inception, with a 24% Gross IRR and a 2.7x Gross Multiple across realised investments. 14 of all 29 investments in Antin’s Flagship series have been fully realised as of 31 December 2021. Antin looks for investment opportunities that benefit from positive long-termmarket trends, exhibit defensive infrastructure characteristics, demonstrate a degree of complexity and have identifiable value creation potential. The infrastructure characteristics are evaluated on the basis of the Antin Infrastructure Test, which all investments must pass and which lies at the core of the investment thesis. The Antin Infrastructure Test filters for essential assets with embedded downside protection, barriers to entry, recurring cashflows and inflation protection, providing a solid foundation for Antin’s disciplined innovation and value creation approach. The Flagship Fund Series grew from €1.1 billion for Flagship Fund I to €6.5 billion for Flagship Fund IV, whilst the target number of investments per fund remains relatively stable at ~8-12 investments. The Flagship Fund Series targets controlling equity investments in the range of €400-700 million for Flagship Fund IV, investing in the energy and environment, telecom, transport and social infrastructure sectors in Europe and North America.
EQUITY INVESTMENT RANGE:
~ € 400 - 700 m for Flagship Fund IV
GEOGRAPHY
Europe
North America
SECTORS
ENERGY & ENVIRONMENT
TELECOM
SOCIAL INFRASTRUCTURE
TRANSPORT
OWNERSHIP
CONTROLLING STAKES
AUM realised gross returns across 14 exits €20.2 bn €11.3 bn 24 % /2.7 x FPAUM
9 ANTIN INFRASTRUCTURE PARTNERS S.A. - UNIVERSAL REGISTRATION DOCUMENT 2021
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