Antin Infrastructure Partners

ANTIN

Equity

ISIN FR0014005AL0 / Valor 113742742

Euronext - Euronext Paris (2026-09-08)

EUR 8.42-0.82%

Antin Infrastructure Partners
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About company

Antin Infrastructure Partners is a specialist investment firm that raises capital from institutional investors to acquire and manage infrastructure assets, typically taking controlling or significant minority stakes in mid‑to‑late‑stage (brownfield) businesses; its activity spans transport, energy and utilities, and digital infrastructure such as fiber and towers, and it deploys capital through closed‑end funds and bespoke vehicles while providing active asset and portfolio management to improve operations and prepare exits. Headquartered in Europe with a presence in major financial centers, Antin competes in the global infrastructure private‑equity market by sourcing deals, negotiating long‑term concessions or company purchases, and working with management teams to drive operational performance and value creation on behalf of pension funds, insurers and other large institutional investors.

Summarized from source with an LLMView SourceSector: Finance

Key financials

Revenue €318.4m (+12.6% y/y); underlying EBITDA €186.9m (+6.5%) with a 59% margin (down 3pp); underlying net income €136.3m (+6.6%); underlying EPS (after dilution) €0.76 (+4.7%).

AUM and fee-paying AUM

Total AUM €33.3bn (+7.2%); Fee‑Paying AUM €21.6bn (+7.3%). Management fees (~97% of revenue) rose to €309.4m, with Flagship Fund V contributing €170.6m (including €27.7m catch‑up fees).

Fundraising and Flagship Fund V

Fundraising in 2024 was €1.1bn (entirely Flagship V). Flagship Fund V held a final close at €10.2bn (above €10bn target) and was the largest infrastructure fund final close globally in 2024; ~38% committed as at 31‑Dec‑2024.

Investments and exits

Investments €1.8bn in 2024 (three new investments including Portakabin, Proxima and GTL Leasing). Exit activity included the sale of Grandi Stazioni Retail, completing full realisation of Flagship Fund II with a realised Gross Multiple of 2.6x.

Balance sheet and cash flow

Strong balance sheet: €388.9m cash & equivalents at 31‑Dec‑2024 and no borrowings. Net cash inflow from operations €125.6m; net decrease in cash €35.7m largely due to investments in financial assets and dividend payments.

Shareholder returns

The Board proposed a full‑year dividend of €0.71 per share (stable vs. 2023), of which €0.37 per share to be paid on 18 June 2025; payout ratio ~93% of underlying net income.

Costs and headcount

Total operating expenses €131.5m (+22.5%); personnel costs €92.5m (+24.7%) reflecting headcount expansion (notably in investment teams) to support growth.

Outlook

Guidance: underlying EBITDA expected above €160m in 2025, with stable shareholder distributions in 2025 and a significant step‑up in earnings expected by 2027 driven by new funds (Mid Cap Fund II, Flagship Fund VI).

Summarized from source with an LLMView Source

Key figures

-25.1%1Y

-35.9%3Y

%5Y

Performance

29.5%1Y

35.6%3Y

39.2%5Y

Volatility