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  6. Apax Global Alpha Limited (APAX)

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APAX

Apax Global Alpha Limited

165.40
0.40 (0.24%)
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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
Upgrade Icon
  0.40 0.24% 165.40 286,623 16:29:56
Bid Price Offer Price High Price Low Price Open Price
165.20 165.40 165.40 164.20 164.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Trust,ex Ed,religious,charty -100.05 -110.04 - - 812.28
Last Trade Time Trade Type Trade Size Trade Price Currency
17:30:24 O 82 165.156 GBX
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Scottish Mortgage Invest... (SMT), M&g (MNG), Tiger Royalties And Inve... (TIR), Golden Rock Global (GCG)

Apax Global Alpha (APAX) Latest News

Apax Global Alpha News

Date Time Source Headline
02/6/202308:13ALNCNewsIN BRIEF: Apax Global Alpha invests in online educational marketplace
02/6/202307:00UKREGApax Global Alpha Limited Funds advised by Apax invest in Swing Education
23/5/202307:00UKREGApax Global Alpha Limited Notice of Capital Markets Day
16/5/202310:42ALNCNewsIN BRIEF: Apax Global Alpha to invest in Indian software provider
16/5/202307:00UKREGApax Global Alpha Limited Funds advised by Apax to acquire IBS Software
04/5/202311:14ALNCNewsIN BRIEF: Apax Global Alpha quarterly net asset value down
04/5/202307:00UKREGApax Global Alpha Limited Result of AGM
13/3/202312:18ALNCNewsSUMMARY: London listings with exposure to Silicon Valley Bank
13/3/202307:00UKREGApax Global Alpha Limited Update relating to SVB
02/3/202312:02ALNCNewsApax Global Alpha net assets fall in year of "fundamental change"

Apax Global Alpha (APAX) Discussions and Chat

Apax Global Alpha Forums and Chat

Date Time Title Posts
02/6/202310:00::::: APAX GLOBAL ALPHA LTD :::::246

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Apax Global Alpha (APAX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-06 16:30:32165.1682135.43O
2023-06-06 15:55:58165.415,9539,846.74O
2023-06-06 15:39:15165.4026,69544,153.53O
2023-06-06 15:36:49165.4026,69544,153.53O
2023-06-06 15:35:18165.4057,81395,622.70UT

Apax Global Alpha (APAX) Top Chat Posts

Top Posts
Posted at 02/6/2023 10:00 by speedsgh
Funds advised by Apax invest in Swing Education - HTTPS://www.londonstockexchange.com/news-article/APAX/funds-advised-by-apax-invest-in-swing-education/15982248

Apax Global Alpha, the closed-ended investment company providing access to the Apax Private Equity Funds, today announced that it expects to invest approximately €1.7m in Swing Education on a look-through basis1.

On 1 June 2023, the Apax Global Impact Fund ("AGI"), in which AGA is a limited partner, announced an investment in Swing Education, a pioneering online marketplace that connects schools and substitute teachers, as part of a $38m Series C funding round.

AGA's investment is calculated based on the look through position of AGI's overall investment in Swing Education and is translated based on the exchange rate at close2.

Swing Education is an online marketplace that connects substitute teachers with schools. Founded in 2015 by former K-12 educators and administrators, Swing makes it easier for schools to find reliable, qualified substitute teachers when they need them most. With over 300,000 absence days filled to date, Swing is dedicated to improving the experience of schools finding substitute teachers, of candidates entering the substitute teaching field, and of students continuing to learn disruption-free.

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 predominantly debt investments ('Derived Investments'). In March 2022, AGA made a commitment of $60m to AGI.
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Posted at 02/3/2023 11:52 by jonwig
Annual results:

https://www.investegate.co.uk/apax-global-alpha-ld--apax-/rns/2022-final-results/202303020700045867R/

It looks like their private assets are moving with market rates, but their derived instruments (bonds) have produced some gains. No time to read the detail.
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Posted at 01/3/2023 15:18 by speedsgh
Interesting little discussion on APAX on the Citywire forums...

HTTPS://moneyforums.citywire.com/yaf_postst16005_Considering-APAX.aspx
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Posted at 01/3/2023 08:06 by jonwig
The latest Hardman note gave two good reasons why APAX deserved a premium rating in the PE sector.

First, dividends are largely paid out of interest on the "derived instruments" - mostly bonds, and second, APAX picks companies where there is scope for improved performance. They have teams which can jig them up.
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Posted at 16/2/2023 09:45 by makinbuks
Lets hope so, I hold Harbourvest, Oakley and HG as well. I like the dividend from Apax. The consistency of that gives me comfort as the share price and discount fluctuate.
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Posted at 14/9/2022 11:34 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.
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Posted at 10/6/2022 07:17 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...
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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...
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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.
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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.
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