|
The flotation will involve a capital increase
of about 350 million euros ($416 million) through the issuance
of new shares as well as a limited sale of existing shares by
the company's co-founders, Antin said.
The deal will help Antin, one of the world's leading
infrastructure investment firms with approximately 20 billion
euros in assets under management, to accelerate growth and
diversify its investment portfolio while also strengthening its
brand.
Speaking at a news conference, Antin's co-founder Alain Rauscher
declined to say what market valuation the company expected to
reach with the IPO.
Asked about whether Antin might be interested in buying an asset
management firm, Rauscher said the company had no plans to do
so.
"For now it is not on the agenda," he said.
Antin's IPO comes after rival private equity firm Bridgepoint
went public in July in a deal that saw its value rise by more
than a fifth on its London stock market debut.
Other buyout funds including L Catterton - the private equity
firm backed by French billionaire Bernard Arnault and luxury
goods empire Louis Vuitton Moet Hennessy - are considering
tapping public markets at a time when private equity buyouts
have hit record volumes with activity rising 152% in the first
six months of the year to $512 billion, representing 18% of
global M&A volumes.
JPMorgan and Morgan Stanley are the joint global coordinators on
the Antin deal while Bank of America, BNP Paribas and Citigroup
are the joint bookrunners.
Rauscher and Mark Crosbie founded Antin Infrastructure Partners
in 2007. The company has around 140 employees, including 75
investment professionals based in Paris, London and New York.
($1 = 0.8421 euros)
(Reporting by Pamela Barbaglia; Additional reporting by Matthieu
Protard in Paris; Editing by Mark Potter and Susan Fenton)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
