Apax Global Alpha Dividends - APAX

Apax Global Alpha Dividends - APAX

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Stock Name Stock Symbol Market Stock Type
Apax Global Alpha Limited APAX London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
2.60 1.47% 179.80 16:35:27
Open Price Low Price High Price Close Price Previous Close
175.00 175.00 179.60 179.80 177.20
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EQUITY INVESTMENT INSTRUMENTS

Apax Global Alpha APAX Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
18/08/2022InterimGBX630/12/202130/06/202201/09/202202/09/202223/09/20220
02/03/2022FinalGBX6.3631/12/202031/12/202110/03/202211/03/202204/04/202212.33
19/08/2021InterimGBX5.9730/12/202030/06/202126/08/202127/08/202117/09/20210
02/03/2021FinalGBX5.2831/12/201931/12/202011/03/202112/03/202102/04/202110.15
25/08/2020InterimGBX4.8730/12/201930/06/202003/09/202004/09/202025/09/20200
03/03/2020FinalGBX4.6831/12/201831/12/201912/03/202013/03/202003/04/20209.54
14/08/2019InterimGBX4.8630/12/201830/06/201922/08/201923/08/201913/09/20190
05/03/2019FinalGBX4.1231/12/201731/12/201814/03/201915/03/201905/04/20198.45
14/08/2018InterimGBX4.3330/12/201730/06/201823/08/201824/08/201814/09/20180
06/03/2018FinalGBX4.1731/12/201631/12/201715/03/201816/03/201804/04/20188.41
17/08/2017InterimGBX4.2430/12/201630/06/201724/08/201725/08/201715/09/20170
07/03/2017FinalGBX4.1331/12/201531/12/201616/03/201717/03/201704/04/20178.08
17/08/2016InterimGBX3.9530/12/201530/06/201625/08/201626/08/201614/09/20160
08/03/2016InterimGBX3.6931/12/201431/12/201517/03/201618/03/201605/04/20163.69

Top Dividend Posts

Top Posts
Posted at 04/11/2022 10:19 by jonwig
Brucie - maybe because APAX isn't "pure" PE. The portfolio split is here:

https://www.apaxglobalalpha.com/investment-portfolio/portfolio-composition/

The debt investments (at 28%) will brovide an income stream, so the dividend isn't entirely return of capital.

Posted at 04/11/2022 07:30 by jonwig
Quarterly results:

https://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/quarterly-results-for-30-september-2022/202211040700032916F/

These look very good (the company says "resilient") with valuationas at 30/09, nav is now 251p.

Debt instruments did well, as most are floating rate. Quoted equity investments a bit of a drag (not a surprise) but private ones were positive.

Dividend for th year could be around 12.5p.

Posted at 14/9/2022 10:34 by speedsgh
The Apax Digital Fund II invests in Xeneta - HTTPS://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/the-apax-digital-fund-ii-invests-in-xeneta/202209140700093494Z/

On 13 September 2022, The Apax Digital Fund II ("ADF II"), of which AGA is a limited partner in, announced an investment in Xeneta, a leading ocean and air freight rate benchmarking and market analytics platform, as part of an $80m funding round led by ADF II.

As organisations undergo efforts to navigate instabilities in the current uncertain market, access to readily available and actionable freight rate data has emerged as a strategic priority. With this investment, Xeneta will accelerate investments in platform development and continue scaling its global commercial teams. This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility. Following the investment, the Apax Digital Funds will work closely with Xeneta to help cement the company's leading position and continue to drive penetration, leveraging several value creation leavers to help fuel growth.

In 2021 AGA made a commitment of $90m to ADF II. On a look through basis, AGA is expected to invest approximately €3.5m in Xeneta. Note that these figures relate to AGA's look through position of ADF II's investment in Xeneta and are stated before taking into account any closing adjustments and are translated into Euro based on today's exchange rates where applicable.1

"While global trade tries to get back on its feet after a couple of years of uncertainty, it's clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market," said Xeneta CEO and Co-founder Patrik Berglund.

Posted at 10/6/2022 06:17 by speedsgh
Funds Advised by Apax Sell Stake in MyCase - HTTPS://www.londonstockexchange.com/news-article/APAX/funds-advised-by-apax-sell-stake-in-mycase/15489245

The Apax X Fund ("Apax X"), in which Apax Global Alpha Limited ("AGA") is a limited partner, announced that it has closed the sale of a controlling stake of portfolio company MyCase ("the Company"), a leading provider of cloud-based legal practice management software and payment services, to AffiniPay. The purchase consideration for MyCase consists of cash and stock and following the transaction, the Apax Funds remain a minority shareholder in the combined business.

The transaction values AGA's current look through investment in MyCase at approximately €22.5m1. This represents an uplift of c.48% to last Unaffected Valuations2 and an uplift of c.€7.3m (c.€0.01 per share) in the Adjusted Net Asset Value ("Adjusted NAV") of AGA at 31 March 2022.

Note that these figures relate to AGA's look through position of Apax X's overall investment in MyCase and are stated before taking into account any closing adjustments and are translated based on the latest exchange rates available where applicable3.

Founded in 2010, MyCase provides legal practice management software and integrated payments to legal professionals across small and medium-sized law firms in the US. The software covers the entire client lifecycle with leads, case management, billing/invoicing, and reporting.

Apax X acquired MyCase in 2020, carving out the business from AppFolio, a publicly traded software company. The investment thesis was to capitalise on rapidly increasing technology adoption by law firms by investing in a leading player with clear improvement opportunities in go-to-market, product expansion, M&A, and carve-out driven acceleration of the business. Leveraging the Apax Funds' deep experience in the software sub-sector and Apax's Operational Excellence Practice, Apax X partnered with MyCase on several initiatives over the course of the investment period to drive value creation...

Posted at 22/3/2022 08:10 by speedsgh
Apax Digital Funds invest in ClearBank - HTTPS://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/apax-digital-funds-invest-in-clearbank/202203220700045203F/

On 21 March 2022, The Apax Digital Fund ("ADF") and Apax Digital Fund II ("ADF II", together "the Apax Digital Funds"), both of which AGA is a limited partner in, announced an investment in ClearBank, one of the largest next-generation clearing and embedded banking platforms in the UK.

On a look through basis, AGA is expected to invest approximately €5.4m in the company. Note that these figures relate to AGA's look through position of ADF and ADF II's overall investments in ClearBank and are stated before taking into account any closing adjustments and are translated into Euro based on today's exchange rates where applicable.1

ClearBank is a leading supplier of embedded banking services in the UK and the only next generation payments provider with direct access to all banking payment schemes in the UK (e.g. Faster Payments, BACS, CHAPS), providing over 13 million real and virtual bank accounts to businesses and their consumers. As a regulated bank, ClearBank manages transactions end-to-end from order transmission to settlement, liquidity management and clearing. ClearBank works with leading financial brands such as Coinbase and ADF portfolio company Tide.

The Apax Digital Funds will leverage the Apax Funds' experience in fintech and software to partner with management and help drive the business forwards. The new investment will help accelerate ClearBank's global expansion of its clearing and embedded banking offering, initially in Europe before moving into North America and Asia Pacific...

Posted at 08/3/2022 13:56 by speedsgh
Proposed commitment to Apax Global Impact Fund - HTTPS://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/proposed-commitment-to-apax-global-impact-fund/202203080700039248D/

AGA announces that the Board intends to commit USD $60 million to the Apax Global Impact Fund. This is in accordance with the Company's investment policy to invest in new Private Equity Funds advised by Apax. This commitment remains conditional on, inter alia, the approval and execution of the relevant legal documentation.

The Apax Global Impact Fund will build on Apax's strong ESG credentials and closely align with Apax's sector-driven strategy, seeking out opportunities to support companies which deliver tangible societal and/or environmental impact. The strategy revolves around four themes - Health & Wellness, Environment & Resources, Social & Economic Mobility, and Digital Impact Enablers.

Posted at 14/2/2022 08:04 by speedsgh
Apax X invests in Alcumus and Ole Smoky - HTTPS://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/apax-x-invests-in-alcumus-and-ole-smoky/202202140700075066B/

The Apax X Fund ("Apax X"), in which AGA is a limited partner, has announced that it has signed a definitive agreement to acquire Alcumus, a global leader in technology-led risk management and compliance solutions. Apax X has also signed a definitive agreement to acquire a controlling stake in Ole Smoky Distillery ("Ole Smoky"), one of the fastest growing spirits companies in the US. Both transactions are expected to close in Q1 2021, subject to customary closing conditions.

On a look through basis, AGA is expected to invest approximately €20m in Alcumus and approximately €10m in Ole Smoky, depending on final closing arrangements.

Note that these figures relate to AGA's look through position of Apax X's overall investments in Alcumus and Ole Smoky and are stated before taking into account any closing adjustments, fees, costs, and carried interest, and are translated based on today's exchange rates where applicable1.

Alcumus provides Environment, Health and Safety (EHS) as well as Environmental, Social and Governance (ESG) risk management and compliance software and services. The EHS and ESG services sectors, which the Apax Funds know well having tracked them for several years, are seeing significant growth driven by an increasingly complex regulatory environment and rising EHS and ESG expectations and requirements - tailwinds Alcumus is expected to benefit from. Apax X will leverage the Apax Funds' experience across services and software to partner with the existing management team in capitalising on long-term secular growth and consolidation in the market.

Ole Smoky is a leading distiller of premium American whiskeys that are renowned for their high quality, innovative and award-winning flavors. The investment follows on from previous acquisitions in the consumer-packaged goods sector where the Apax internet/consumer team focuses on opportunities to acquire well-positioned premium brands. In line with this strategy, Apax X identified Ole Smoky as a compelling investment opportunity in the high-growth spirits sector and will look to accelerate the company's growth through continued investment in the core brand and supporting the strategic acquisition of complementary brands.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax as well as a focused portfolio of debt and equity investments ("Derived Investments"). In July 2019, AGA made a commitment of c.$450m2 to Apax X.

Posted at 16/9/2021 14:45 by speedsgh
Private Equity: Discounts ‘too wide’ as Apax, HarbourVest, HgCapital & Dunedin deliver - HTTPS://citywire.co.uk/investment-trust-insider/news/private-equity-discounts-too-wide-as-apax-harbourvest-hgcapital-and-dunedin-deliver/a1555318

A string of positive updates from private equity investment trusts continues to underscore the anomaly of many of their shares trading at steep discounts to the asset value.

Apax Global Alpha (APAX), which invests in the private equity funds of Apax Partners, jumped 3.3% today as it announced a 5.9% rise in net asset value (NAV) following this week’s successful flotation of Thoughtworks, a global tech consultant whose shares ‘popped’ 40% on their first day of trading on Nasdaq.

The half-hearted market response to news of the 89% uplift in the valuation of its Thoughtworks stake in the Apax IX fund is typical of the £1bn investment company and its sector.

Despite a good track record of backing unquoted technology, services, healthcare and consumer businesses, Numis Securities estimates Apax shares trade 14% below NAV, offering an attractive entry point given the 5% dividend yield and 36% total shareholder return they have provided in the past year.

‘Yet again, we think this rams home the conservative valuation of the positions in private equity portfolios and confirms our belief that the discounts on these funds are still too wide,’ said QuotedData analyst James Carthew.

Last month, the Guernsey-based, London-listed Apax reported interim results showing a 6.4% gain in the second quarter. Numis analyst Andrew Rees believes the third quarter should be positive, too, given the share price rises in its larger listed holdings such as Duck Creek Tech, Paycor and Global-e, although elderly care provider InnovAge, a 3% position, has been weak, sliding 42% since its Nasdaq debut in March.

Over five years, with the semi-annual dividends included, the investment company has delivered 126% to shareholders, way ahead of the FTSE All Share’s meagre 32% and beating the more competitive returns of 86.5% from the MSCI AC World index or the 119% from the US S&P 500...

Posted at 08/9/2021 13:30 by speedsgh
Funds advised by Apax to invest in T-Mobile - HTTPS://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/funds-advised-by-apax-to-invest-in-t-mobile/202109080700060378L/

On 7 September 2021, the Apax X Fund ("Apax X"), in which AGA is a limited partner, announced that it had signed, in consortium with Warburg Pincus LLP ("Warburg Pincus"), a definitive agreement to acquire T-Mobile Netherlands Holding B.V. ("T-Mobile"), a leading European telecommunications operator. The transaction is subject to customary closing conditions, including consultation with employee representatives, and regulatory approvals.

On a look through basis, AGA is expected to invest approximately €22m in T-Mobile. Note that this figure relates to AGA's look through position of Apax X's overall investment in T-Mobile and is stated before taking into account any closing adjustments and translated based on the latest exchange rates available where applicable[1].

T-Mobile, which operates four brands - T-Mobile, Tele2, Ben, and Simpel - is a leading European telecommunications operator. Under the current management team, the company has become the leading mobile network operator in the Netherlands and the first to offer unlimited and nationwide 5G, as well as becoming the fastest growing operator in the fixed broadband market serving around 700,000 broadband customers at the end of Q2 2021.

Funds advised by Apax and Warburg Pincus have long-standing experience and strong track-records in the Communications Services and broader Telecommunication, Media, and Technology ("TMT") sector, having invested in companies globally, including in Salt (Apax), Wind Telecom (Apax), TDC (Apax), Ziggo (Warburg Pincus), Inexio (Warburg Pincus) and Community Fibre (Warburg Pincus). The two firms have also worked closely together since 2019 when their respective funds jointly invested in Inmarsat, a mobility-focused satellite operator focused on maritime, aviation and government end-markets.

Under the new ownership, T-Mobile will become an independent Dutch company and Apax and Warburg Pincus will look to partner with the management team to support the company as it continues to focus on innovation and growing its already impressive customer base...

Posted at 29/12/2020 13:59 by speedsgh
Funds Advised by Apax Partners sell Boats Group - HTTPS://www.londonstockexchange.com/news-article/APAX/funds-advised-by-apax-partners-sell-boats-group/14806747

The Apax IX Fund ("Apax IX"), in which AGA is a limited partner, has announced that it has agreed to sell its stake in Boats Group, a leading online marketplace and provider of software solutions for the recreational marine industry, to Funds advised by Permira. Apax IX has also agreed to sell a minority stake in ThoughtWorks, a global software consultancy, to a group of investors. Both transactions are expected to close by the end of Q1 2021, subject to customary closing conditions.

The full exit from Apax IX's investment in Boats Group is expected to deliver a total Gross MOIC of approximately 4.2x and a Gross IRR of approximately 41%.

Both the Boats Group and ThoughtWorks transactions were agreed at uplifts to their last Unaffected Valuations1, and together they represent an average uplift of c.30% to last Unaffected Valuations and an uplift of c.€29m (c.€0.06 per share) in the Adjusted Net Asset Value ("Adjusted NAV") of AGA at 30 September 20202.

Note that these figures relate to AGA's look through position of Apax IX's overall investments in Boats Group and ThoughtWorks and are stated before taking into account any closing adjustments, fees, costs, and carried interest, and are translated based on today's exchange rates where applicable3.


Funds Advised by Apax invest in Azentio Software - HTTPS://www.londonstockexchange.com/news-article/APAX/funds-advised-by-apax-invest-in-azentio-software/14806745

On 28th December 2020, the Apax X Fund ("Apax X"), in which AGA is a limited partner, announced that it had entered into a definitive agreement to acquire the Software Products business from 3i Infotech, a global information technology company. The transaction is expected to close in early 2021, subject to shareholder and regulatory approvals.

On a look through basis, AGA is expected to invest approximately €5.4m in the newly formed company, which will be named Azentio Software.

Note that these figures relate to AGA's look through position of Apax X's overall investment in Azentio Software and are stated before taking into account any closing adjustments and are translated into Euro based on today's exchange rates where applicable.1

Since its incorporation in 1993, 3i Infotech has been providing a range of IT services and software products to 1,200+ customers across multiple industry verticals in over 50 countries. The company operates through two business segments: Services and Software Products. The Software Products business comprises a comprehensive set of core software products for customers in banking, financial services and insurance verticals ("BFSI") and includes key products such as Kastle™ (universal banking platform), AMLOCK™ (compliance software suite), Premia™ Astra (core insurance software), Orion™ (enterprise resource planning software) and MFund™ Plus (asset management platform).

Having closely followed the company's progress, Apax X identified an opportunity to carve out the software business from 3i Infotech to create a leading BFSI software provider in the region. Following the transaction, Apax X will support the newly formed Azentio Software with increased investments in R&D and sales and marketing. Azentio Software will focus on modernising its current product portfolio, launching new products and providing best in class service levels to all customers. The Apax Funds will also use Azentio as a platform to do M&A across the BFSI software space in the region.

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