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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Apax Global Alpha Limited | APAX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.80 | 1.29% | 140.80 | 16:35:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 139.00 | 137.80 | 142.00 | 140.80 | 139.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 05/03/2024 | Final | GBP | 0.0564 | 14/03/2024 | 15/03/2024 | 04/04/2024 |
| 06/09/2023 | Interim | GBP | 0.057 | 14/09/2023 | 15/09/2023 | 03/10/2023 |
| 02/03/2023 | Final | GBP | 0.0582 | 09/03/2023 | 10/03/2023 | 03/04/2023 |
| 19/08/2022 | Interim | GBP | 0.06 | 01/09/2022 | 02/09/2022 | 23/09/2022 |
| 02/03/2022 | Final | GBP | 0.0636 | 10/03/2022 | 11/03/2022 | 04/04/2022 |
| 19/08/2021 | Interim | GBP | 0.0597 | 26/08/2021 | 27/08/2021 | 17/09/2021 |
| 02/03/2021 | Final | GBP | 0.0528 | 11/03/2021 | 12/03/2021 | 01/04/2021 |
| 25/08/2020 | Interim | GBP | 0.0487 | 03/09/2020 | 04/09/2020 | 25/09/2020 |
| 03/03/2020 | Final | GBP | 0.0468 | 12/03/2020 | 13/03/2020 | 03/04/2020 |
| 14/08/2019 | Interim | GBP | 0.0486 | 22/08/2019 | 23/08/2019 | 13/09/2019 |
| Top Posts |
|---|
Posted at 10/4/2024 22:50 by mrscruff It went down on US high inflation news today and APAX has a high allocation to US. I have also added. The downside protected by the credit income and sector wide discount on equity. We do have to wait though and bank the dividend in the mean time. European central rate cuts will be interesting as this is a European company with US exposure 🤔This is a lower risk investment than other Private Equity and with a high reward of what 40% over the next 18 months? Many will not be able to wait. Not one for FOMO lovers, but patience. |
Posted at 05/3/2024 11:26 by makinbuks No surprises in todays results. Doing exactly what it says on the tin. Derivative portfolio delivering exceptional results and allowing the dividend policy to be continued while realisations from PE are reinvested. Huge discount will narrow at some point. Patience required in the meantime |
Posted at 11/2/2024 13:39 by skyship Divi at 5% Of NAV delivers 11.35p, ie a yield at 153p of 7.42%."Against an uncertain market backdrop, AGA's performance remained resilient driven primarily by value creation in the Private Equity portfolio and strong returns from the Company's debt investments. Over the last five years AGA has delivered a total annualised return of c.12% and returned nearly EUR300m in dividends to shareholders. This is testament to the strength of AGA's portfolio and the Apax Funds' 'all-weather' investment strategy." Does rather suggest this is a safe PE High-yielder trending down to the lows of its trading range. I'll be looking for a cheap offer to be on-board soon... |
Posted at 09/2/2024 12:27 by speedsgh Estimated Adjusted NAV as at 31 December 2023 - AGA estimates its Adjusted NAV2 as at 31 December 2023 to be c.€1,288m (FY22 c.€1,299m) or €2.62 cents per share / £2.27 pence per share. Income from the portfolio and gains were largely offset by c.€65m paid in dividends to shareholders during the year and the impact of FX due to the EUR strengthening against the USD. FY23 Total Adjusted NAV Return was 4.1% (6.1% constant currency) with Q4 Total Return of 1.9% (4.5% constant currency). Details on the composition and valuation of the AGA portfolio as at 31 December 2023 (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 2023 Annual Results, being released on 5 March 2024. Commenting on the performance, Ralf Gruss, Partner at Apax and a member of the AGA Investment Committee, said: "Despite weaker economic activity in 2023, there was good momentum across the Private Equity portfolio with deal activity picking up in the second half of the year as more compelling investment opportunities emerged. The Apax Funds' strategy is not predicated on continued market tailwinds and its foundation focuses on buying right at entry and accelerating business performance during the funds' ownership to generate alpha. We believe it is a strategy well suited for the current environment." |
Posted at 15/1/2024 08:31 by jonwig orinocor - they invest in various funds run by Apax Partners, rather than in individual companies. Any individual company is described as being on a "look-through" basis. Performance figures for the funds are given quarterly, at least.However, they invested indirectly in seven new assets last year (see the RNS list) and made one disposal, Duck Creek, at a 46% uplift on carrying value. Post #273 makes a good point, and personally I prefer my dividends to buybacks, which they aren't doing. |
Posted at 14/1/2024 15:53 by mrscruff Still very poor relative performance vs peers limiting the downside despite technicals showing "sell". I continue to add. Only a matter of time. APAX will eventually be an retirement income trust due to its dividend being taken from NAV and not share price. |
Posted at 16/12/2023 20:25 by nexusltd @speedsgh From "(12 Jul 2022) - Matches confirms Nick Beighton as its new CEO,[6] Following this Matches received £60m from Apax[7] to power it's turnaround." 1. Looking through APAX PEIT's December 2022 AR, and the 2023 09 Q3 presentation, Matches is not listed in the top 30 PE investments. The investment quantum in the 30th holding is <1% of reported NAV. 2. APAX PEIT has not released an RNS regarding investment in Matches. Unless you know any different I can only conclude that the APAX PEIT has an insignificant interest, if any, in Matches. |
Posted at 06/12/2023 16:42 by mrscruff While APEO is a strong buy contender, APAX has the advantage of investing directly in the underlying holdings, which removes a layer of fees.Additionally, APAX can opt out of fundraising "commitments" if the return is not as good in today's higher rate environment. As mentioned, the discount on the actual equity is similar because of the credit business. PE credit is in fashion and is making APAX and other PE companies lots of money. It may be a secular shift or trend going forward. Rest assured APAX is the better buy for 2024, but as usual, the share price in the short term is unpredictable and personal investors have the opportunity to build a position while there is a institutional seller. The selling usually does not last too long in these types of trusts. I add a little every day under 155p. No stamp duty. Buy and hold through 2024, or as a small allocation to a pension, or trade it to recovery, the choice is yours. |
Posted at 09/11/2023 09:40 by speedsgh Quarterly Results to 30 September 2023 - Key highlights · AGA achieved a Total NAV Return1 of (0.1%) ((1.9%) constant currency) in the three months ended 30 September 2023. Adjusted NAV2 was largely unchanged at €1.3bn (30 June 2023: €1.3bn), equivalent to a NAV per share of €2.57/£2.23. · Performance from the Debt portfolio helped offset multiple driven declines in Private Equity in Q3 2023. · The Private Equity portfolio remained resilient in the face of an uncertain market environment and earnings growth continued to be the main driver of NAV returns with portfolio companies achieving an average LTM EBITDA growth of 16.4%3 to the end of September. · AGA received €35m in distributions from the Apax Funds, including from two full exits achieved at an average uplift of 11%4. · There was continued momentum in the Private Equity portfolio with AGA deploying €28m5 across two new Private Equity investments in the quarter with a further five investments post quarter end. · The Debt portfolio, which primarily consists of first and second lien loans, achieved a Total Return1 of 5.6% in the quarter. Ralf Gruss, Partner at Apax and a member of the AGA investment committee, said: "Despite a more challenging market backdrop, AGA is well positioned as seen by the resilience of the Private Equity portfolio and returns achieved by the Company's debt investments. Over the past five years AGA has delivered an average Total NAV Return of c. 12% and returned more than €300m in dividends to shareholders. In the last quarter we have seen a step-up in activity across the Private Equity portfolio and we believe that Apax's focus on operating value creation is highly relevant in current markets." [continues] |
Posted at 11/10/2023 10:57 by speedsgh Apax Funds acquire Bazooka Candy Brands - Apax Global Alpha, the closed-ended investment company providing access to the Apax Private Equity Funds, today announced that it has invested approximately €16.6m in Bazooka Candy Brands ("Bazooka") on a look-through basis1. On 10th October 2023, the Apax XI Fund ("Apax XI"), in which AGA is a limited partner, announced that it had acquired Bazooka, a portfolio of leading non-chocolate confectionary ("NCC") brands, from Michael D. Eisner's Tornante Company and funds affiliated with Madison Dearborn Partners ("MDP"). Bazooka produces, markets, and distributes a range of iconic confectionary brands, including Ring Pop®, Push Pop®, Baby Bottle Pop®, Juicy Drop®, and Bazooka Bubble Gum®. The Company's portfolio spans lollipops, gummies, chewy candy, and gum, packed in highly unique formats to deliver Edible Entertainment® experiences to generations of customers since 1947. Within the US, Bazooka is a top-10 manufacturer in the NCC category and holds a leading share position in 'front of store sales', a coveted, high margin segment for retailers2. Products are distributed worldwide with c.80% of sales in the US across a broad network of channels, with the remaining c.20% of sales occurring internationally in over 40 countries. Over the past several years, Bazooka's U.S. retail sales growth has significantly outpaced the overall confectionary category, and in the year-to-date period through August 2023, retail sales have grown approximately 29% year-over-year2. Apax's Internet/Consumer sector team, working in partnership with Bazooka's management team, will look to stand the company up as an independent business and build on the success of Bazooka's global portfolio of beloved confectionery brands. In support of its growth efforts, the team will focus on distribution growth, product innovation, geographic expansion, and the strategic acquisition of brands in complementary categories... |
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