US private equity investment firm General Atlantic is in discussions to acquire UK-based infrastructure fund manager Actis as it looks to diversify and add assets ahead of an expected initial public offering, according to a report by the Financial Times.
The report cites four people with knowledge of the matter as revealing that the deal, which would add $12.7bn to General Atlantic’s $77bn assets under management, has yet to be finalised and could still fail to progress.
Best known for backing fast-growing technology and consumer companies such as Alibaba, and Joe & the Juice, General Atlantic has recently been looking to broaden its offerings beyond its flagship growth equity strategy.
In line with that initiative, in April, the New York firm bought Iron Park, a private credit fund manager and also has acquired a stake in Clipway, a specialist in teh acquitiosn of private equity secondaries.
