General Atlantic acquires Actis, boosts assets to $96 billion

General Atlantic expands: On Tuesday, US private equity firm General Atlantic announced its acquisition of UK-based infrastructure investor Actis, marking another instance of investors showing confidence in the growth of alternative assets. Although the financial terms were not disclosed, the deal is set to increase General Atlantic's assets under management to approximately $96 billion. This move follows BlackRock's recent agreement to acquire Global Infrastructure Partners for $12.5 billion, positioning the asset management giant prominently in global investments related to ports, power, and digital infrastructure projects.

Under the terms of the deal, Actis will transition to become General Atlantic's sustainable infrastructure division, contributing approximately $12.5 billion in assets focused on energy transition, digital transformation, and supply chain evolution. The joint statement emphasised the necessity of significant capital investment for addressing the worldwide shift towards sustainability. Bill Ford, Chairman and CEO of General Atlantic, expressed the importance of this addition, stating, "With the addition of Actis, we are taking a significant step forward."

Actis will retain its leadership under Chairperson and Senior Partner Torbjorn Caeser, and its funds will operate under the existing Actis brand. General Atlantic, established in 1980, currently boasts a portfolio of 225 companies, including Shein (a fast-fashion retailer), PhonePe (India's digital payments startup), and Mobileye (a self-driving technology firm), as indicated on its website.

(With Reuters Inputs)