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Antin: stock hit as 2023 targets reduced

( - Antin Infrastructure Partners shares fell sharply on Wednesday in Paris after the group reduced outlook for FY 2023, due to a more difficult fund-raising environment.

The infrastructure investment specialist this morning announced that it was now only expecting recurring EBITDA of around E170m, down from the previous forecast of around E200m.

Antin also made it clear that it would not be able to raise E10bn, as originally planned, for its fifth Flagship fund ("Fund V") by the time it closes by the end of the year.

The company said that instead it was planning to raise E9bn for Flagship Fund V, citing the current delicate fund-raising environment.

At end-September, it had E30.8bn in AuM, representing an annual growth rate of 6.4%,

In late morning Antin shares are down nearly 13%, bringing their YTD decline to almost 50%.

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