European Infrastructure Investor Antin Considers IPO

(Bloomberg) -- Antin Infrastructure Partners, the private equity firm that invests in everything from fiber-optic networks to water utilities, is considering a potential initial public offering, people with knowledge of the matter said.

The European alternative asset manager is working with advisers to study a share sale as soon as this year, according to the people, who asked not to be identified because the information is private. It is considering Paris as a possible listing venue, though it hasn’t made any final decisions, the people said.

Antin’s potential deal would mark the latest private equity firm to tap public markets, which can provide funds to expand into new areas as well as allow top dealmakers to cash out. U.S. alternative asset manager TPG is also considering a potential IPO or merger with a special purpose acquisition company, people with knowledge of the matter have said.

British buyout firm Bridgepoint said last week it plans to list on the London Stock Exchange. That deal could value the business at about 2 billion pounds ($2.8 billion), Bloomberg News has reported. Fundraising from IPOs in Europe has surged this year to $58 billion, up from $8 billion during the same period in 2020, according to data compiled by Bloomberg.

Several European private equity firms are already publicly traded, including France’s Eurazeo SE and Tikehau Capital SCA as well as Switzerland’s Partners Group Holding AG. Antin may be spurred on by the success of Swedish investment firm EQT AB, whose shares have risen nearly fivefold since its 2019 IPO and is now valued at about $38 billion.

Deliberations are ongoing, and details of the potential listing could change, the people said. A representative for Antin declined to comment.

Founded in 2007, Antin manages four funds investing in infrastructure in Europe and North America, according to its website. The firm is led by managing partners Alain Rauscher and Mark Crosbie and has more than 135 professionals spread between Paris, London and New York. Its portfolio includes companies like CityFibre, a provider of high-speed telecom infrastructure in the U.K., and French energy services provider Idex.

Last year, Antin bought control of water treatment company Miya from Bridgepoint. It was also considering joining a counterbid for Suez SA as the French company sought to fend off a takeover by Veolia Environnement SA.

Separately, Antin has been exploring a sale of French private hospital provider Almaviva Sante, which could be valued at more than 1 billion euros ($1.2 billion), Bloomberg News reported in June.

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