Kirkland & Ellis has advised Antin Infrastructure Partners on its €4.1 billion initial public offering on the Euronext market in Paris – the largest IPO to take place on the exchange so far in 2021, according to Kirkland.

The IPO will enable Antin, a major infrastructure investment firm with approximately €19 billion in commitments from its global investor base, to accelerate growth in a rapidly expanding area and diversify its investment portfolio.

Antin specializes in the acquisition of majority shares in infrastructure companies operating in the energy and environment, telecommunications, transportation, and social infrastructure sectors.

The listing took place Friday on the Paris exchange's Compartment A, the trading platform dedicated to companies with more than €1 billion in market capitalization. The initial offering price was €24 per share. Antin shares traded at midday Monday at €29.88.

The Kirkland team was led by corporate partner Vincent Ponsonnaille, tax partners Jonathan Kandel, Andrew Douglas and Nadine Gelli, and investment funds partner Erica Berthou.

Infrastructure investing by private equity is experience a growth spurt in Paris, and in Europe generally, as projects start up again after the COVID-19 pandemic.

Clifford Chance recently expanded its infrastructure practice in Paris with a four-lawyer, partner-led team hire from Weil, Gotshal & Manges.

Fueling the growth, according to lawyers in the field, is a convergence of two types of players in the market: private equity funds that focus on infrastructure, and infrastructure funds that want to widen their asset class towards more private equity investment.

https://www.law.com/international-edition/2021/09/13/clifford-chance-lures-private-equity-partner-back-from-weil/