Apax Global Alpha

Overview

Apax Global Alpha (AGA) is a Guernsey-registered closed-ended investment company that offers shareholders access to a diversified portfolio of private equity investments and debt holdings. The company primarily invests in private companies through Apax Partners' private equity funds, focusing on sectors such as technology, services, and internet/consumer. AGA also maintains a portfolio of debt investments to generate income and enhance the robustness of its balance sheet. The company's investment strategy centers on identifying and investing in 'hidden gems'—businesses that can be strengthened and made more valuable through operational improvements. AGA targets an annualized total return of 12-15% across economic cycles, including a dividend yield of 5% of net asset value. As of June 30, 2025, the company reported a 5-year annualized total net asset value return per share of 7.4%. In July 2025, Apax Partners agreed to acquire AGA in a deal valued at approximately €916.5 million, marking a significant consolidation in the private equity sector. This acquisition was completed in September 2025, leading to AGA's delisting from the London Stock Exchange. The transaction was structured to provide shareholders with the option to receive cash or unlisted shares in a newly established private vehicle, reflecting Apax Partners' commitment to enhancing value for AGA's investors.

Investment Focus

• Target enterprise value of $100 million to $5 billion

Portfolio Companies