Antin IP SAANTIN
▲ PositiveCapitalrelevance
Resumed exits and strong fund performance support fundraising for Mid-Cap 2, despite revenue decline.
Impact on stocks 2
Financials
Antin IP SAOthers
Bank of Chongqing Co Ltd601963
Mentioned
Antin Infrastructure Partners reported its H1 2026 results, highlighting resumed exits with two major transactions signed over the summer, expected to return around EUR2.1 billion to fund investors. The company's three main funds delivered strong performance, with IRRs around or above 15%, including Flagship 4 at 14.5%, Mid-Cap 1 at 19.6%, and Flagship 5 at 16.3%. Mid-Cap 1 is now fully committed, enabling the launch of fundraising for Mid-Cap 2, with commitments already being gathered from LPs. However, underlying revenue decreased by 4.5% year-on-year to EUR138.5 million, and EBITDA declined by 12.3% to EUR69.9 million, with full-year 2026 underlying EBITDA expected to be slightly below 2025 levels due to the delayed activation of Mid-Cap 2, now pushed to the fourth quarter of 2026. The company maintains a healthy EBITDA margin of 50%, entirely fee-related, and remains committed to its dividend policy with an implied yield around 8%.
Antin IP SAResumed exits and strong fund performance support fundraising for Mid-Cap 2, despite revenue decline.
Bank of Chongqing Co Ltd