Apax Global Alpha (LON:APAX) has announced that the Board intends to commit USD $700 million to the Apax XI Fund. This is in accordance with the Company’s investment policy to invest in new Private Equity Funds advised by Apax. This commitment is expected to be split 70:30 between the USD and Euro tranches of the fund to approximate the currency mix of expected future realisations from AGA’s current portfolio of investments and remains conditional on, inter alia, the approval and execution of the relevant legal documentation.
The Apax XI Fund will continue the Apax Funds’ established strategy of investing in buyout opportunities globally across four core sectors: Tech, Services, Healthcare and Internet/Consumer.
Apax Global Alpha Limited
Apax Global Alpha is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.
AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.
The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax’ Private Equity activities.
