Modern Slavery and Human Trafficking Statement
Modern slavery is an unacceptable condition in our current time but one which is sadly still prevalent in the societies in which we live and operate. The UK Modern Slavery Act 2015 (“the Act”) requires relevant commercial organisations operating in the UK to report annually on the steps the organisation has taken during the financial year to ensure that slavery and human trafficking is not taking place both in its own business but also in any of its supply chains.
Apax Global Alpha Limited (“AGA”) is a Guernsey registered closed-ended investment Company listed on the London Stock Exchange. It is managed by Apax Guernsey Managers Limited (“AGML”, or “the Investment Manager”), a regulated investment manager in Guernsey, licensed by the Guernsey Financial Services Commission. The Investment Manager is advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. Apax is authorised and regulated by the Financial Conduct Authority in the UK.
AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company makes Private Equity investments in Apax Funds, and has a portfolio of primarily debt investments, derived from the insights gained via Apax’s Private Equity activities.
AGA has a number of outsourced and third party vendor relationships, the most significant of which are the Investment Manager and Apax. When selecting third party suppliers, AGA will assess their reputation and how well established they are in their field. Risk-based due diligence on AGA’s critical third parties is conducted on an annual basis and any modern slavery issues identified are discussed by the Board.
Given the nature of Apax’s advisory business, there is a very low risk of slavery or human trafficking in connection with its activities. Apax’s key suppliers are professional services firms who provide operational, commercial and financial advice for the review of investments made by the Apax Funds. Apax expects all those in its supply chain and its contractors to comply with its values. Apax is committed to implementing and enforcing effective systems and controls to safeguard against slavery and human trafficking taking place in its business or supply chains. Specifically, it looks to ensure that its global team receives training to understand the risks of modern slavery and it includes anti-slavery and human trafficking measures in its Global Business Standards. The AGA Board has reviewed and noted Apax’s own Modern Slavery Statement that is available at www.apax.com
AGA does not have any employees and is governed by a Board of non-executive directors. The directors have been made aware of the provisions of the Act and this statement has been approved by the Board. Any matters arising regarding slavery or human trafficking are escalated to the Board for discussion.