Antin Infrastructure Partners is poised to begin fundraising for a vehicle of around €1.5 billion targeting the mid-market space, sources have told Infrastructure Investor.
The sources said that the European manager is thought to be at the initial stages of such a strategy but will begin pitching the fund to investors in the near future. The strategy is understood to be investor-led.
Antin declined to comment on the matter.
Infrastructure Investor understands the vehicle will replicate Antin’s existing strategy of investments in sectors such as telecoms, energy, transport and social infrastructure, primarily in Europe but with room to invest in the US. It will be looking at equity sizes of about €200 million to €300 million.
Antin closed its fourth flagship fund in July on its hard-cap of €6.5 billion, although this series is believed to be too large to compete in the mid-market.
Speaking at our mid-market roundtable in September, Antin partner Nicolas Mallet said he believed this part of the market had more room for manoeuvre than the large-cap space. “I think it is less crowded for funds around €1 billion. There is right now a market opportunity,” he said.
Antin’s €6.5 billion close followed the December 2016 closing of its third fund on its hard-cap of €3.6 billion. Its first two funds raised €1.1 billion and €2 billion respectively.