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Apax Global Alpha To Commit USD350 Million To Private Equity Fund

Fri, 05th Feb 2016 09:49

LONDON (Alliance News) - Apax Global Alpha Ltd on Friday said it plans to commit USD350.0 million to the Apax IX private equity fund as part of the initial close of the fund.

The commitment is in line with the company's policy of investing in the new private equity funds of Apax Partners.

In addition, Apax Global Alpha said it has agreed an amendment and restatement of its multicurrency revolving credit facility agreement with Lloyds Bank PLC, part of Lloyds Banking Group PLC.

The move increases the funds available to EUR140 million from EUR90.0 million, with an extension to the maturity date of three years from the old date of Thursday this week.

The margin in the amended and restated facility has increased to 210 basis points from 200 bps over Euribor or Libor, depending on the currency denomination of the money borrowed.

Shares in Apax Global Alpha were untraded at 115.00 pence on Friday morning.

By Samuel Agini; samagini@alliancenews.com; @samuelagini