Apax Global Alpha Limited (LON:APAX), the closed-ended investment company providing access to the Apax Private Equity Funds, has announced that, Mr Karl Sternberg has accepted an invitation to join the Board, as a non-executive Director and a member of its audit committee, with effect from 1 March 2024.
Tim Breedon, who has been Chairman of the Company since its Initial Public Offering in 2015, has indicated that he wishes to retire from the Board in 2024, at which point he will have completed nine years in the role. It is intended that Mr Sternberg will succeed him as Chairman of Apax Global Alpha in the second half of 2024, allowing for an appropriate handover period.
Karl was a founding Partner of Oxford Investment Partners, which was acquired by Towers Watson in 2013. Prior to that, he held a number of positions at Morgan Grenfell/Deutsche Asset Management, including as Chief Investment Officer for Europe, Australia, and Asia Pacific.
Karl has significant investment trust experience, and he is currently Chairman of Clipstone Industrial REIT plc, Monks Investment Trust plc and a non-executive director of Herald Investment Trust plc and Jupiter Fund Management plc.
Karl (or any person that may be a connected party to Karl) has a beneficial interest in 12,500 shares of the Company at the date of this announcement.
Notes
1. Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to “AGA” or “the Company”. References to Apax Partners LLP have been abbreviated to “Apax Partners” or “the Investment Adviser”
2. This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to “US persons” (as defined in Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”)) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions.
