Cabot Square Capital has agreed the sale of Equitix to a subsidiary of Tetragon Financial Group for GBP160 million.
The transaction, which represents a 12x return on invested capital for Cabot Square Capital, remains subject to regulatory approval.
Cabot Square Capital established Equitix in 2007 to benefit from the emergence of infrastructure assets as an institutional asset class. Equitix has since become a leading integrated infrastructure asset manager with over GBP1 billion funds under management across three 25-year core-infrastructure funds focused on mid-sized infrastructure projects and two energy-efficiency funds.
Earlier this month, Cabot Square Capital announced an 18x return from the sale of MedicX Group and in 2013 a 5x return from the sale of Key Retirement Solutions.
Keith Maddin, partner, Cabot Square Capital, says: “Equitix is a very successful business and has built a first class track record of infrastructure fund raising and investment. Equitix is well placed to capitalise on this momentum further and we wish them all the best for the next stage of their growth.”
Geoff Jackson, CEO of Equitix Group, says: “Since it was founded, Equitix has evolved to become a market leading integrated infrastructure asset manager. We are particularly proud of what we have delivered for our investors as well as the contribution we have been able to make to the United Kingdom’s infrastructure projects. We have appreciated the partnership and support we have received from the team at Cabot Square Capital. The entire team now look forward to working with our new owner and partner and we believe this transaction will benefit Tetragon, Equitix, our investors, our infrastructure operating partners and our employees.”
