Antin Infrastructure Partners is set to open its first office outside Europe with the unveiling of a New York office in January, Infrastructure Investor has learnt.
The fund manager currently has bases in Paris, London and Luxembourg but agreed its first non-European deal in February this year when it bought fibre optic developer FirstLight Fiber.
It is believed that senior partner Kevin Genieser will be relocating to New York to lead the office. Genieser joined Antin’s London office in September 2017 following a 20-year tenure at Morgan Stanley. It is also understood he will be joined by partner Guillaume Friedel, who has been at Antin since 2008.
Antin declined to comment on the move. However, after agreeing the FirstLight Fiber deal in February, Genieser insisted the deal did not represent a shift in strategy for Antin, which is thought to have around a 20 percent limit on deals in North America.
“If and when we have an opportunity to invest in North America, we will occasionally take a look [to see] if it meets our investment strategy and expected target returns,” Genieser told Infrastructure Investor at the time.
Antin is believed to be currently raising its fourth fund, expected to reach between €5 billion and €6 billion. The firm typically targets gross IRRs of about 15 percent for its funds, which both its first and second funds are understood to be exceeding.