AGA at a glance

Apax Global Alpha (“AGA”, Ticker: APAX) is a closed-end investment company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.

AGA offers a unique exposure to a diversified portfolio of Private Equity Investments and Derived Investments, which are investments in equity and debt derived from insights gained from Apax Partners’ private equity activities.

Apax Partners LLP ("Apax Partners") who is AGA's Investment Adviser, is a leading global private equity advisory firm with €40bn of funds raised to date since 1981.

  • Opportunity to invest in strong track record of Apax private equity funds
  • Unique exposure to private equity and debt
  • Diversified exposure across industries and asset classes
12-15% Target Annualised Total Return
5% Target Dividend Yield
30 September 2016 Financial Highlights 
  • 2.0% Total Return for three months ended 30 September 2016(1)
  • €1.81 / £1.57 Adjusted NAV per share
  • 93% of funds invested
  • €889.6m Adjusted NAV(2)
  • €732.5m / £634.7m market capitalisation
  • Second interim dividend paid 3.95p per share

Note: Past performance is not indicative of future results. 1. Total Return means the return on the movement in the Adjusted NAV per share at the end of the period together with all the dividends paid during the period, to the Adjusted NAV per share at the beginning of the period. NAV per share used in the calculation is rounded to 5 decimal points. 2. Adjusted for estimated performance fee reserve as at 30 September 2016 calculated on a liquidation basis.

NAV History
Net Asset Values as at 30 September 2016
 31 December 2015 
€m
31 March 2016 
€m
30 June 2016 
€m
30 September 2016 
€m
Adjusted NAV 923.6 883.6 894.4 889.6
NAV 936.5 887.1 901.1  897.2
Private Equity 473.6 444.5 440.3  421.0
Derived Investments 441.1 402.3 407.8  409.6
Cash and Cash Equivalents 22.9 42.7 48.5  65.6
Others (1.1) (2.4) 4.5  1.0
 
Net Asset Values per share as at 30 September 2016
 31 December 2015 
€/£
31 March 2016 
€/£
30 June 2016 
€/£
30 September 2016 
€/£
Adjusted NAV per Share 1.88/1.38 1.80/1.43 1.82/1.52 1.81/1.57
NAV per Share 1.91/1.41 1.81/1.43 1.83/1.53 1.83/1.58

 

(1) Adjusted for estimated performance fee reserve as of 30 September 2016 calculated on a liquidation basis.

Top 10 Portfolio Holdings

Look-through Private Equity - Portfolio Composition(1)
(30 September 2016)

Private Equity

 

Derived Investments - Portfolio Composition (30 September 2016)

Derived Investments

(1) On a look through basis reflecting AGA’s investments in various Apax Funds

Portfolio Composition

Portfolio Split by Asset Type
30 September 2016

Asset Type

Portfolio Split by Sector
30 September 2016

Sector

Portfolio Split by Geography
30 September 2016

Geography

 

 

BOARD OF DIRECTORS

Tim Breedon CBE (Chairman)
Susie Farnon (Chairman of the Audit Committee)
Chris Ambler
Sarah Evans

INVESTMENT MANAGER

Apax Guernsey Managers Limited
Third Floor Royal Bank Place
1 Glategny Esplanade
St Peter Port
Guernsey
GY1 2HJ

INVESTMENT ADVISER

Apax Partners LLP
33 Jermyn Street
London
SW1Y 6DN

CONTACT DETAILS

Apax Global Alpha Limited
P.O. Box 656
East Wing
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3PP
+44 20 7872 6300

Investor.relations@apaxglobalalpha.com

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