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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Antin Infrastructure Partners | EU:ANTIN | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.06 | -0.44% | 13.60 | 13.42 | 13.80 | 13.86 | 13.46 | 13.64 | 24,484 | 16:40:00 |
Highest-ever level of fundraising and number of investments in 2022 ~75% of Flagship Fund V target commitments already raised
Regulatory News:
Antin (Paris:ANTIN):
AUM
€30.6bn
+34.9% over the LTM
+5.6% vs. 3Q 2022
Fee-Paying AUM
€19.1bn
+38.4% over the LTM
+17.3% vs. 3Q 2022
HIGHLIGHTS
Fundraising
Dec-2022 LTM
€8.2bn
€8.2bn
incl. co-investment
Investments
Dec-2022 LTM
€2.9bn
€3.6bn
incl. co-investment
Gross Exits
Dec-2022 LTM
€2.2bn
€2.4bn
incl. co-investment
FUNDRAISING
INVESTMENT ACTIVITY
EXIT ACTIVITY
FUND PERFORMANCE
APPENDIX
DEVELOPMENT OF AUM AND FEE-PAYING AUM OVER THE LAST TWELVE MONTHS
(€bn)
AUM
Fee-Paying AUM
Beginning of period, 31 December 2021
22.7
13.8
Gross inflows
8.3
8.9
Step-downs
-
(2.9)
Realisations (1)
(2.4)
(0.8)
Revaluations
1.9
-
End of period, 31 December 2022
30.6
19.1
Change in %
+34.9%
+38.4%
QUARTERLY DEVELOPMENT OF AUM AND FEE-PAYING AUM
(€bn)
AUM
Fee-Paying AUM
Beginning of period, 30 September 2022
29.0
16.3
Gross inflows
2.2
2.8
Step-downs
-
-
Realisations (1)
-
-
Revaluations
(0.6)
-
End of period, 31 December 2022
30.6
19.1
Change in %
+5.6%
+17.3%
ACTIVITY REPORT
(€bn)
Dec-2022 last twelve months
Dec-2021 last twelve months
AUM
30.6
22.7
Fee-Paying AUM
19.1
13.8
Fundraising
8.2
2.5
Fundraising incl. co-investments
8.2
3.8
Investments
2.9
1.7
Investments incl. co-investments
3.6
3.3
Gross exits
2.2
1.3
Gross exits incl. co-investments
2.4
1.6
KEY STATS BY FUND
Fund
Vintage
AUM €bn
FPAUM €bn
Committed Capital €bn
% Committed
% Realised
Gross Multiple
Expectation
Flagship
Fund II
2013
0.6
0.3
1.8
87%
91%
2.6x
Above plan
Fund III (2)
2016
6.5
2.7
3.6
89%
23%
1.8x
Above plan
Fund IV
2019
11.0
4.3
6.5
83%
-
1.4x
On plan
Fund III-B
2020
1.9
1.1
1.2
88%
-
1.6x
On plan
Fund V (3)
2022
7.4
7.4
7.4
9%
-
-
-
Mid Cap
Fund I
2021
2.2
2.2
2.2
49%
-
1.2x
On plan
NextGen
Fund I (3)
2021
1.0
1.0
1.0
22%
-
-
-
(€bn)
COST OF INVESTMENTS
VALUE OF INVESTMENTS
Fund
Vintage
FPAUM
Committed Capital
Total
Realised
Remaining
Total
Realised
Remaining
Flagship
Fund II
2013
0.3
1.8
1.6
1.3
0.3
4.2
3.8
0.4
Fund III (2)
2016
2.7
3.6
2.9
0.2
2.7
5.8
1.1
4.7
Fund IV
2019
4.3
6.5
4.4
-
4.4
6.0
-
6.0
Fund III-B
2020
1.1
1.2
1.1
-
1.1
1.7
-
1.7
Fund V (3)
2022
7.4
7.4
0.8
-
0.8
0.9
-
0.9
Mid Cap
Fund I
2021
2.2
2.2
0.7
-
0.7
0.8
-
0.8
NextGen
Fund I (3)
2021
1.0
1.0
0.2
-
0.2
0.2
-
0.2
Management fees for Flagship Fund V, Mid Cap Fund I and NextGen Fund I are calculated on committed capital as these funds are in investment period. Management fees for Flagship Fund II, Flagship Fund III, Fund III‑B and Flagship Fund IV are calculated on the remaining cost of investments as these funds are in post-investment period.
Flagship Fund IV moved to post-investment period on 2 August 2022. It charged management fees on committed capital (€6.5bn) from 1 July 2022 – 2 August 2022. From 3 August 2022 onwards, it charges management fees on the cost of investments at the end of the prior period (€3.6bn in 3Q and €4.3bn in 4Q) at a blended management fee rate of ~1.2%.
Investment period of Flagship Fund V activated on 2 August 2022. Management fees charged from 2 August 2022 onwards on committed capital (€7.4bn). Blended management fee rate is expected to be broadly in line with prior funds and estimated to reach ~1.45% at completion of fundraising.
DEFINITIONS
Antin: Umbrella term for Antin Infrastructure Partners S.A.
Antin Funds: Investment vehicles managed by Antin Infrastructure Partners SAS or Antin Infrastructure Partners UK
Assets Under Management (AUM): Operational performance measure representing the assets managed by Antin from which it is entitled to receive management fees, undrawn commitments, 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 investment income that Antin and other carried interest investors are contractually entitled to receive directly or indirectly from the Antin Funds, which is inherently variable and fully dependent on the performance of the relevant Antin Fund(s) and its/their underlying investments
% Committed: 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
Committed Capital: The total amounts that fund investors agree to make available to a fund during a specified time period
Fee-Paying Assets Under Management (FPAUM): The portion of AUM from which Antin is entitled to receive management fees 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
Realisations: 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
% 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 €30bn in Assets under Management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs approximately 200 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
Full-Year 2022 Results
23 March 2023
1Q 2023 Activity Update
26 April 2023
2023 Annual Shareholders’ Meeting
6 June 2023
Half-Year 2023 Results
4 August 2023
3Q 2022 Results
8 November 2023
___________________ (1) Gross exits for AUM and exits at cost for FPAUM (2) % realised and value of investments include the partial sale of portfolio companies from Flagship Fund III to Fund III-B (3) Fundraising ongoing. % invested calculated based on the fund’s target commitments
View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006006/en/
SHAREHOLDER RELATIONS Ludmilla Binet Head of Shareholder Relations ludmilla.binet@antin-ip.com
MEDIA Nicolle Graugnard Communication Director nicolle.graugnard@antin-ip.com
BRUNSWICK antinip@brunswickgroup.com
Tristan Roquet Montegon +33 (0) 6 37 00 52 57
Gabriel Jabès +33 (0) 6 40 87 08 14
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