07/21/2022 | Press release | Distributed by Public on 07/20/2022 23:07
21 Jul 2022 07:00 CEST
ANTIN INFRASTRUCTURE PARTNERS
FR0014005AL0
Euronext
ANTIN
Execution of ANTIN INFRASTRUCTURE PARTNERS' growth strategy continued; Hard cap for Flagship Fund V set at €12bn
Regulatory News:
Antin Infrastructure Partners (Paris:ANTIN):
HIGHLIGHTS OF THE QUARTER
FUNDRAISING
INVESTMENT ACTIVITY
EXIT ACTIVITY
FUND PERFORMANCE
FINANCING
PEOPLE
ESG
POST CLOSING EVENTS
APPENDIX
DEVELOPMENT OF AUM AND FEE-PAYING AUM OVER THE LAST TWELVE MONTHS
€bn |
AUM |
Fee-Paying AUM |
Beginning of period, 30 June 2021 |
19.9 |
13.4 |
Gross inflows |
2.1 |
1.0 |
Step-downs |
- |
- |
Exits (1) |
(2.3) |
(0.8) |
Revaluations |
2.7 |
- |
FX and other |
- |
- |
End of period, 30 June 2022 |
22.4 |
13.6 |
Change in % |
+12.8% |
+1.3% |
QUARTERLY DEVELOPMENT OF AUM AND FEE-PAYING AUM
€bn |
AUM |
Fee-Paying AUM |
Beginning of period, 31 March 2022 |
22.0 |
13.7 |
Gross inflows |
0.6 |
0.3 |
Step-downs |
- |
- |
Exits (1) |
(0.7) |
(0.4) |
Revaluations |
0.5 |
- |
FX and other |
- |
- |
End of period, 30 June 2022 |
22.4 |
13.6 |
Change in % |
1.7% |
(0.9)% |
ACTIVITY REPORT
€bn |
Jun-2021 LTM |
Jun-2022 LTM |
AUM |
19.9 |
22.4 |
Fee-Paying AUM |
13.4 |
13.6 |
Fundraising |
3.9 |
0.8 |
Fundraising incl. co-Investments |
5.7 |
1.8 |
Investments |
4.0 |
1.7 |
Investments incl. co-Investments |
5.7 |
2.9 |
Gross exits (2) |
1.7 |
2.0 |
Gross exits incl. co-Investments (2) |
2.9 |
2.3 |
KEY STATS BY FUND
Fund |
Vintage |
AUM |
Fee- |
Committed |
% |
% |
Gross |
Expectation |
Flagship |
||||||||
Fund II |
2013 |
0.6 |
0.3 |
1.8 |
87% |
92% |
2.6x |
Above plan |
Fund III (2) (3) |
2016 |
6.6 |
2.7 |
3.6 |
89% |
23% |
1.8x |
Above plan |
Fund IV |
2019 |
10.4 |
6.5 |
6.5 |
61% |
0% |
1.3x |
On plan |
Fund III-B (2) |
2020 |
1.9 |
1.1 |
1.2 |
88% |
0% |
1.6x |
On plan |
Mid Cap |
||||||||
Fund I |
2021 |
2.2 |
2.2 |
2.2 |
36% |
0% |
1.1x |
On plan |
NextGen |
||||||||
Fund I (4) |
2021 |
0.8 |
0.8 |
0.8 |
15% (5) |
0% |
- |
- |
DEFINITIONS
Antin: Umbrella term for Antin Infrastructure Partners S.A.
Antin Funds: Investment vehicles managed by Antin
Assets Under Management (AUM): Operational performance measure representing both the assets managed by Antin from which it is entitled to receive management fees or a carried interest, the assets from co-investment vehicles which do not generate management fees or carried interest, and the net value appreciation on current investments
Carried Interest: A form of revenue that Antin and other carried interest participants are contractually entitled to receive via its direct or indirect entities in the Carry Vehicles of the Antin Funds. Carried Interest corresponds to a form of variable consideration that is fully dependent on the performance of the relevant Antin Fund and its underlying investments
Committed Capital: The total amounts that fund investors agree to make available to a fund during a specified time period
Exits: Cost amount of realisation of investments through a sale or write-off of an investment made by an Antin Fund. Refers to signed realisations in a given period
Fee-Paying Assets Under Management (FPAUM): The portion of AUM from which Antin is entitled to receive management fees or carried interest across all of the Antin Funds at a given time
Gross Exits: Value amount of realisation of investments through a sale or write-off of an investment made by an Antin Fund. Refers to signed realisations in a given period
Gross Inflow: New commitments through fundraising activities or increased investment in funds charging fees after the investment period
Gross Multiple: Calculated by dividing (i) the sum of (a) the total cash distributed to the Antin Fund from the portfolio company and (b) the total residual value (excluding provision for carried interest) of the Fund's investments by (ii) the capital invested by the Fund (including fees and expenses but excluding carried interest). Total residual value of an investment is defined as the fair market value together with any proceeds from the investment that have not yet been realised. Gross Multiple is used to evaluate the return on an Antin Fund in relation to the initial amount invested.
Investments: Signed investments by an Antin fund
% Invested: Measures the share of a fund's total commitments that has been deployed. Calculated as the sum of (i) closed and/or signed investments (ii) any earn-outs and/or purchase price adjustments, (iii) funds approved by the Investment Committee for add-on transactions, (iv) less any expected syndication, as a % of a fund's committed capital at a given time
% Realised: Measures the share of a fund's total value creation that has been realised. Calculated as realised value over the sum of realised value and remaining value at a given time
Realised Value / (Realised Cost): Value (cost) of an investment, or parts of an investment, that at the time has been realised
Remaining Value / (Remaining Costs): Value (cost) of an investment, or parts of an investment, currently owned by Antin funds (including investments for which an exit has been announced but not yet completed)
Step-Downs: Normally resulting from the end of the investment period in an existing fund, or when a subsequent fund begins to invest
ABOUT ANTIN INFRASTRUCTURE PARTNERS
Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €22bn in Assets under Management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, telecom, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 190 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on compartment A of the regulated market of Euronext Paris (Ticker: ANTIN - ISIN: FR0014005AL0)
Financial Calendar |
|
1H 2022 Results |
14 September 2022 |
3Q 2022 AUM Announcement |
4 November 2022 |
_____________________________
(1) Gross exits for AUM and exits at cost for FPAUM
(2) Excludes the partial sale of lyntia. Inclusion in activity report upon full exit
(3) % realised includes the partial sale of assets from Flagship Fund III to Fund III-B
(4) Fundraising ongoing. Target commitments at €1.2bn. Hard cap at €1.5bn
(5) % invested calculated based on target commitments of €1.2bn
View source version on businesswire.com: https://www.businesswire.com/news/home/20220720005800/en/
SHAREHOLDER RELATIONS
Ludmilla Binet
Head of Shareholder Relations
Email:
[email protected]
MEDIA
Nicolle Graugnard
Communication Director
Email:
[email protected]
BRUNSWICK
Email:
[email protected]
Tristan Roquet Montegon
+33 (0) 6 37 00 52 57
Gabriel Jabès
+33 (0) 6 40 87 08 14
ANTIN INFRASTRUCTURE PARTNERS SA
BusinessWire