Apax Global Alpha Limited (LON: APAX) has a portfolio of Private Equity and Derived Investments. Under its Private Equity strategy, AGA is a limited partner in Private Equity funds advised by Apax Partners LLP.
AGA Global has announced it has received the Apax Funds’ valuations as at 30 September 2019. These valuations are set out below at an individual fund level (net of relevant fees and carried interest estimates). AGA holds exposures to the Apax Funds via various individual holdings which also have different fee structures.
Details on the composition and valuation of the AGA portfolio as at 30 September 2019 (which may differ to those shown in the table below due to the various holding structures through which AGA invests) will be included in AGA’s Q3 2019 results, which will be released on 6 November 2019.
Valuations for the Apax Funds to which AGA has an exposure, have reported the following movements for the period from 30 June 2019 to 30 September 2019:
|Valuation at 30.06.191||Capital Calls||(Distributions)||Unrealised Gain / (Loss)||Valuation at 30.09.191||Like-for-like% change2|
|Apax Europe VI €m||721||–||–||75||796||10%|
|Apax Europe VII €m||2,132||–||(60)||106||2,178||5%|
|Apax VIII €m||1,954||–||–||142||2,096||7%|
|Apax VIII $m||2,705||–||–||63||2,768||2%|
|Apax IX EUR €m||1,550||189||–||185||1,924||11%|
|Apax IX USD $m||4,813||603||–||289||5,705||5%|
|Apax Digital $m||285||–||–||(38)||247||-13%|