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APAX Apax Global Alpha Limited

0.80 (0.52%)
24 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Apax Global Alpha Limited LSE:APAX London Ordinary Share GG00BWWYMV85 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.80 0.52% 155.00 75,033 16:35:08
Bid Price Offer Price High Price Low Price Open Price
154.80 155.80 156.40 155.20 156.40
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty EUR 70.18M EUR 53.48M EUR 0.1089 14.31 765.13M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:08 UT 8,002 155.00 GBX

Apax Global Alpha (APAX) Latest News

Apax Global Alpha (APAX) Discussions and Chat

Apax Global Alpha Forums and Chat

Date Time Title Posts
13/5/202416:44::::: APAX GLOBAL ALPHA LTD :::::302

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Apax Global Alpha (APAX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-06-24 15:35:08155.008,00212,403.10UT
2024-06-24 14:56:12155.5911,50017,892.39O
2024-06-24 14:43:13155.597,80012,136.03O
2024-06-24 14:34:50155.804062.32AT
2024-06-24 14:27:07156.00221344.76AT

Apax Global Alpha (APAX) Top Chat Posts

Top Posts
Posted at 24/6/2024 09:20 by Apax Global Alpha Daily Update
Apax Global Alpha Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker APAX. The last closing price for Apax Global Alpha was 154.20p.
Apax Global Alpha currently has 491,100,768 shares in issue. The market capitalisation of Apax Global Alpha is £765,134,997.
Apax Global Alpha has a price to earnings ratio (PE ratio) of 14.31.
This morning APAX shares opened at 156.40p
Posted at 07/5/2024 11:44 by makinbuks
every little helps, and I think the 23% uplift is more significant than the 1p it represents. The question is can you apply such a % uplift across the portfolio? This is a sale to KKR Asia, so its a more specialist fund within the PE family. Better than an internal sale to other Apax funds, but not as strong as a trade sale or IPO in terms of market pricing.

Any realisation is to be welcomed while we continue to trade at such a discount
Posted at 07/5/2024 10:20 by speedsgh
Profitable exit from Healthium investment which adds [wait for it...] c.£0.01 to Adjusted NAV at 31/3/2024. Not exactly an excuse for cracking open the champagne but every little helps I suppose.

Apax IX agrees to sell Healthium -
Posted at 02/5/2024 12:04 by speedsgh
From today's update:
"Following materially deteriorating trading at Vyaire during Q1, AGA has taken a €24m writedown on its value across the Private Equity and Debt portfolios, reducing AGA's Private Equity exposure to Vyaire to c.€5m and Debt exposure to Vyaire's first lien loan to €12m."

Vyaire Medical -

APAX valuation of Vyaire equity holding at 31/12/23 was EUR 27.0m; debt was EUR 14.0m. Combined valuation was thererfore EUR 41.0m.

From Q1 factsheet Vyaire debt has been written down to EUR 11.8m (-2.2m). From today's update we know that combined valuation of equity/debt has been written down to EUR 24m so looks like the equity has been written down from EUR 27.0m to c. EUR 12.2m (-55%).

FY23 results presentation -
Q1 2024 results presentation -
Posted at 02/5/2024 10:20 by speedsgh
NAV per share down 16% in both EUR/GBP since its peak in Q3/Q4 2021.

Share price down approx. 37% over same time period.

Has moved from low single digit discount to the current 34% discount.

Opportunity for the patient who are happy to wait for the NAV to return to growth & discount to narrow? To be fair you could probably buy the sector at present and make a decent return over the medium term.
Posted at 02/5/2024 10:03 by speedsgh
~ Q1 adjusted NAV per share EUR 2.54; -3.1% (GBP 2.17; -4.4%)
~ Total NAV return -0.5% (-1.9% constant currency)
* Total return private equity -1.7% (-3.2% constant currency)
* Total return debt investments +3.5% (+1.8% constant currency)
* Total return derived equity +13.6% (+11.8% constant currency)

Quarterly Results to 31 March 2024 -

Ralf Gruss, Partner at Apax and a member of the AGA investment committee, said:
"While Q1 performance was negatively impacted by developments in one of the Private Equity portfolio companies, we believe AGA's overall portfolio remains in good shape, offering solid value growth for shareholders. We are seeing continued momentum with several new private equity investments since the beginning of the year and there is a good pipeline of both new investments and exits. We believe the current share price significantly undervalues the Company's Private Equity holdings."
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 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 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...
Apax Global Alpha share price data is direct from the London Stock Exchange

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