Global growth equity investor General Atlantic announced today the acquisition of sustainable infrastructure investor Actis. Following the acquisition, Actis will become the sustainable infrastructure arm within General Atlantic’s global investment platform.
The move marks the latest in a series of moves by major asset managers to boost their capabilities to target a rapidly growing infrastructure opportunity set driven by themes including energy transition and decarbonization, including last week’s acquisition by BlackRock of infrastructure giant GIP for $12.5 billion.
According to General Atlantic Chairman and CEO Bill Ford, the acquisition comes amidst a “global paradigm shift toward sustainability,” which will require “an economic transformation and a capital investment on a massive scale.”
Ford added:
“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.”
Founded in 2004 as a spin-out from UK development finance institution CDC Group, London-based Actis has grown to more than 140 investment professionals across 17 global offices, with approximately $12.5 billion in AUM, and over $25 billion in capital raised since inception, targeting investments in critical infrastructure across key themes including energy transition, digital transition, and supply chain transformation.
Following the acquisition, General Atlantic will manage approximately $96 billion of AUM across sustainable infrastructure, real estate, growth equity and credit. The sustainable investment unit will continue to be led by Actis Chairman and Senior Partner Torbjorn Caesar, and the firm will retain the Actis brand.
Caesar said:
“We are very excited to be joining forces with General Atlantic. The combined firm brings together distinct but highly complementary strategies that unlock long-term value for our investors across key structural themes including the energy transition and digital transition.”
Financial terms of the acquisition were not disclosed. The transaction is expected to close in Q2 2024.
