Investing.com Capital Deployment and the Power of Sustained Value Creation



PARIS, LONDON & NEW YORK–(BUSINESS WIRE)–Regulatory News:

Antin Infrastructure Partners SA (Paris: ANTIN):

AUM

31.4 billion euros

+1.3% than L™

Paid AUM

20.3 billion euros

4.8% more than L™

emphasize

  • Assets under management reached 31.4 billion euros, up 1.3% in the past 12 months
    Paid assets under management reached 20.3 billion euros, up 4.8% in the past 12 months
  • Fundraising continues, with flagship fund V committing €9.1 billion by the end of the first quarter of 2024
  • Investment activity remains strong, with an investment announced in mid-cap Fund I in Q1 2024 and an investment in flagship Fund V announced at the end of the reporting period
  • All funds continue to execute as planned or ahead of schedule.Multiple funds' aggregate P/E ratios increased as a result of growth and value creation plans
  • Outlook 2024 confirmed

Alan RauscherChairman and CEO announced:

With two new investments since the start of the year, Antin continues to demonstrate good momentum in capital deployment, driven by substantial opportunities across all of our investment strategies. All of our funds continue to perform in line with or ahead of plan, and we are well on our way to implementing value creation initiatives with portfolio company management.The outlook for infrastructure and Antin remains promising, supported by megatrends such as the energy transition and the digitalization of infrastructure, where we have extensive experience and see attractive investment opportunities.

Fundraising

March 2024L™

1.7 billion euros

1.9 billion euros

include.co-investment

invest

March 2024L™

2.1 billion euros

2.2 billion euros

include.co-investment

Total exit amount

March 2024L™

Fundraising

  • Fundraising €1.7 billion in the last 12 months (€1.9 billion including co-investments) and €100 million in the first quarter of 2024
  • Flagship Fund V €1.5 billion was raised in the past 12 months, including €100 million in the first quarter of 2024. about 41%.Due to the generally long fundraising time in the current environment, Flagship Fund V is still expected to exceed the target fund size of 10 billion euros, and the fundraising is expected to be completed in 2024
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investment activities

  • invest Total of €2.1 billion (€2.2 billion including co-investments) in the last 12 months, of which €300 million (€400 million including co-investments) announced in the first quarter of 2024
  • Antin announced with Excellent imageis France's leading independent medical imaging group and will be conducted in the first quarter of 2024.Growing demand for quality medical services
  • Flagship Fund V's commitments for the first quarter of 2024 remain at around 26%, based on the fund's target size of €10 billion. NextGen Fund I commitments remain approximately 48%. Mid-Cap Fund I committed about 58% after investing in Excellence Imagerie

Exit activity

  • No exit announced in the first quarter of 2024
  • As of March 31, 2024, the realization rates for Flagship Fund III and Fund III-B were 38% and 27%, respectively.

Fund performance

  • All funds continue to perform On or above plan Aggregate multiples increased across multiple funds
  • Flagship Fund II's total multiple remained stable at 2.6x. The combined P/E ratios of Flagship Fund III, Fund III-B and Flagship Fund IV increased by +0.1x to 1.9x, 1.7x and 1.4x respectively, reflecting the continued progress of these portfolios in implementing growth and value creation initiatives. . Mid Cap Fund I, NextGen Fund I and Flagship Fund V are in the investment period.They continue to deploy capital and build their respective portfolios with aggregate P/E ratios of 1.2x, 1.0x and 1.1x respectively

Post-closing activities

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  • Antin announces investment Porta Cabin Acquired through Flagship Fund V on April 15, 2024.After this investment, the commitment amount of flagship fund V is approximately 33%, and the target size of the fund is 10 billion euros

appendix

Development of assets under management and paid management over the past twelve months

(billion euros)

AUM

Paid AUM

Period start date, March 31, 2023

31.0

19.4

total inflow

1.9

1.9

step down

Implement(1)

(1.6)

(1.0)

Revaluation

0.1

End of term, March 31, 2024

31.4

20.3

% change in a certain aspect

+1.3%

+4.8%

Quarterly developments in AUM and paid AUM

(billion euros)

AUM

Paid AUM

Opening date, December 31, 2023

31.1

20.2

total inflow

0.1

0.1

step down

Implement(1)

Revaluation

0.2

End of term, March 31, 2024

31.4

20.3

% change in a certain aspect

+1.1%

+0.7%

activity report

(billion euros)

March 2024

past twelve months

March 2023

past twelve months

AUM

31.4

31.0

Paid AUM

20.3

19.4

Fundraising

1.7

8.0

Fundraising includes co-investment

1.9

8.4

invest

2.1

2.8

Investment includes co-investment

2.2

3.4

total exports

1.4

Total exports, including co-investments

1.6

Key statistics by fund

fund

High quality

AUM
billion euros

FPAUM billion euros

Committed capital
billion euros

% Firm

Achieved percentage

total multiple

expect

flagship

Fund No. 2

year 2013

0.6

0.3

1.8

87%

92%

2.6 times

above plan

Fund Three (2)

2016

5.7

2.0

3.6

89%

38%

1.9 times

above plan

Fund Four

2019

11.0

4.6

6.5

87%

1.4 times

as planned

Fund III-B

2020

1.5

0.8

1.2

88%

27%

1.7 times

as planned

Fund Five (3)

2022

9.0

9.1

9.1

26%

1.1 times

as planned

midcap

Fund No. 1

2021

2.3

2.2

2.2

58%

1.2 times

as planned

new generation

Fund No. 1

2021

1.4

1.2

1.2

48%

1.0 times

as planned

(billion euros)

cost of investment

investment value

fund

High quality

FPAUM

Committed capital

all

Realized

The remaining

all

Realized

The remaining

flagship

Fund No. 2

year 2013

0.3

1.8

1.6

1.3

0.3

4.1

3.8

0.3

Fund three (2)

2016

2.0

3.6

2.9

0.7

2.3

6.0

2.0

4.0

Fund Four

2019

4.6

6.5

4.6

4.6

6.3

6.3

Fund III-B

2020

0.8

1.2

1.1

0.3

0.8

1.8

0.5

1.3

Fund Five (3)

2022

9.1

9.1

1.7

1.7

1.9

1.9

midcap

Fund No. 1

2021

2.2

2.2

0.9

0.9

1.1

1.1

new generation

Fund No. 1

2021

1.2

1.2

0.3

0.3

0.3

0.3

definition

I gave: The collective name of Antin Infrastructure Partners SA

Antin Fund: Investment vehicles managed by Antin Infrastructure Partners SAS or Antin Infrastructure Partners UK

Assets under management (AUM): Operating performance measures representing net value appreciation from Antin's entitled management fees, undrawn committed assets, assets from co-investment vehicles that do not generate management fees or carried interest, and net value appreciation from current investments

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Carry interest: A type of investment income that Antin and other carried interest investors are contractually entitled to receive directly or indirectly from the Antin Funds, which income is variable in nature and depends entirely on the performance of the relevant Antin Funds and its underlying investments

% Firm: Measures the proportion of total fund commitments that have been deployed.Calculated as the sum of (i) investments completed and/or signed (ii) any proceeds and/or purchase price adjustments, (iii) funds approved by the investment committee for additional transactions, (iv) less any anticipated syndications, as The percentage of a fund’s capital committed at a given time

Committed capital: The total amount of money that fund investors agree to contribute to the fund within a specified period of time

Paid Assets Under Management (FPAUM): Antin has the right to collect the AUM portion of the management fee from all Antin funds within a specified period of time

Total exit: The value of an investment realized through the sale or write-off of Antin Fund investments.Refers to an implementation signed during a given period

Total inflow: Fees are charged after the investment period ends through fundraising events or by increasing new commitments to invest in the fund

Total multiple: Calculated as: (i) the sum of (a) the total cash allocated to the Antin Funds by the portfolio companies and (b) the total residual value of the Fund’s investments (excluding the carried interest allowance) divided by (ii) the investment capital paid by the Fund (Includes fees and expenses, but excludes carried interest). The total residual value of an investment is defined as the fair market value plus any unrealized investment income. The total multiple is used to evaluate the Antin Fund's return relative to the initial investment amount.

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invest: Antin Fund signs investment

accomplish: The cost amount of an investment is realized through the sale or write-off of Antin Fund investments.Refers to an implementation signed during a given period

Achieved percentage: Measures the share of total value creation a fund has achieved.Realized value calculated as the sum of realized value and residual value at a given time

Realized value/(realized cost): The value (cost) of the investment or part of the investment that has been realized at that time

Residual value/(residual cost): The value (cost) of an investment or part of an investment currently owned by Antin Fund (including investments that have announced their exit but have not yet completed)

Buck: Typically incurred as a result of the end of the investment period of an existing fund or when a subsequent fund begins investing

Basic EBITDA: Advance earnings, taxes, depreciation and amortization, excluding any non-recurring effects

Basic profit: Net profit after tax and non-recurring effects

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on the infrastructure sector. Antin's flagship, mid-cap and next-generation investment strategies manage more than €30 billion in assets and target investments in the energy and environment, digital, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore, Seoul and Luxembourg, Antin has more than 220 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Antin is majority-owned by its partners and is listed on Euronext Paris regulated market Zone A (ticker: ANTIN “ISIN: FR0014005AL0)

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main

financial calendar

2024 Annual General Meeting of Shareholders

June 13, 2024

2024 Half Year Results

September 11, 2024

2024 Q3 Event Update

October 30, 2024

_______
(1) Total AUM exit and paid AUM exit at cost
(2) Investment realization percentage and value include sales of portfolio companies from Flagship Fund III segment to Fund III-B
(3) Fund raising is in progress.Investment percentage calculated based on the fund's target commitment of €10 billion

Shareholder relations
Lyudmila Binet
Shareholder Relations Manager
shareholder@antin-ip.com

media
Nicole Gragnard
communications director
media@antin-ip.com

Brunswick
antinip@brunswickgroup.com

Tristan Roque Montegon
+33 (0) 6 37 00 52 57

Gabriel Jabis
+33 (0) 6 40 87 08 14

Source: Antin Infrastructure Partners SA





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