Private Equity Firm Antin, Holders Seek $650M in Paris IPO

Private equity firm Antin Infrastructure Partners SA and its founders are looking to raise 550 million euros ($650 million) in an initial public offering in Paris amid a flurry of alternative asset manager listings. 

The firm, which invests in everything from fiber-optic networks to water utilities, is raising about 350 million euros selling new shares, while existing shareholders are offloading the remainder, according to a statement Wednesday. The offering will value the company at as much as 4.13 billion euros. 

Antin will market shares at 20 euros to 24 euros through Sept. 23. The new stock is set to start trading in Paris on Sept. 24.

Antin’s IPO comes on the heels of buyout firm Bridgepoint Group Plc’s U.K. debut in July. Goldman Sachs Group Inc.’s Petershill unit, which specializes in buying stakes in alternative asset managers, is listing a new investment vehicle in London.

Private equity firms have seen near record inflows of new capital since mid-2020, taking the cash on a shopping spree in Europe. Swedish buyout group EQT AB, whose shares have risen nearly sixfold since its 2019 IPO, set off the trend. Bridgepoint shares are trading 47% above the listing price.

JPMorgan Chase & Co. and Morgan Stanley are joint global coordinators, while BNP Paribas SA, BofA Securities and Citigroup Inc. are joint bookrunners for the offering.

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.