Antin Infrastructure Partners (ANTIN) Q1 2026 TU earnings summary

Executive summary

• Achieved continued momentum in capital deployment with three new investments signed in 1Q 2026 across Flagship, Mid Cap, and NextGen strategies.

• Launched fundraising for Mid Cap II, with strong investor engagement and activation expected in 2Q 2026.

• Business model demonstrated resilience with limited operational impact from geopolitical events and low exposure to volatile sectors.

• Robust fund performance, especially in Flagship IV, Flagship V, Mid Cap I, and NextGen I.

Financial highlights

• Fee-Paying AUM rose to €22.1bn, up 3.0% year-over-year; Total AUM increased to €33.8bn, up 1.7% year-over-year.

• Fund investments totaled €0.4bn in 1Q 2026 and €2.9bn over the last twelve months.

• Gross inflows of €0.7bn contributed to Fee-Paying AUM growth over the last twelve months.

Outlook and guidance

• 2026 outlook confirmed, with Fee-Paying AUM growth targeted above the private infrastructure market over a fundraising cycle.

• Underlying EBITDA expected to remain broadly stable in 2026.

• Majority of cash earnings to be distributed to shareholders in two annual instalments, with 2026 distributions expected to be stable.