General Atlantic snaps up UK infrastructure firm to create $96bn investor
US private equity giant General Atlantic snapped up a London infrastructure investor to create a “global investment platform” with some £75bn ($96bn) in assets under management, the firms announced today.
London-based Actis said in a statement that the deal will see its $12.5bn in assets merged with the US outfit.
The financial terms of the deal have not been disclosed.
Actis has a 140 strong team across its 17 global offices and over $25bn in capital raised since inception. The firm says it backs “structural themes that support long-term, equitable growth”.
Under the terms of the agreement, Actis will become the sustainable infrastructure division within General Atlantic’s investment platform.
The combined firm will be led by Actis chairman and Senior partner, Torbjorn Caesar, and will retain independence over its investment decisions under the Actis brand.
“Addressing the global paradigm shift toward sustainability requires an economic transformation and a capital investment on a massive scale,” said Bill Ford, chairman and chief executive officer of General Atlantic.
“With the addition of Actis, we are taking a significant step forward to add a sustainable investment capability which positions General Atlantic to capture this opportunity set for our investors.”
The deal comes amid a push from top investors into the infrastructure space as investors hunt for better returns and look to capitalise on governmental support.
Blackrock last Friday announced it would buy the world’s biggest infrastructure investor General Infrastructure Partners to create a firm with some $150bn in assets under management.