Apax Global Alpha Regulatory News (APAX)

(LSE: APAX)

Apax Global Alpha Limited

 

Director Appointment

 

The Directors of Apax Global Alpha (LON:APAX), the closed-ended investment company providing access to the Apax Private Equity Funds, are pleased to announce that, Mr Karl Sternberg has accepted an invitation to join the Board, as a non-executive Director and a member of its audit committee, with effect from 1 March 2024.

 

Tim Breedon, who has been Chairman of the Company since its Initial Public Offering in 2015, has indicated that he wishes to retire from the Board in 2024, at which point he will have completed nine years in the role. It is intended that Mr Sternberg will succeed him as Chairman of Apax Global Alpha in the second half of 2024, allowing for an appropriate handover period.

 

Karl was a founding Partner of Oxford Investment Partners, which was acquired by Towers Watson in 2013. Prior to that, he held a number of positions at Morgan Grenfell/Deutsche Asset Management, including as Chief Investment Officer for Europe, Australia, and Asia Pacific.

 

Karl has significant investment trust experience, and he is currently Chairman of Clipstone Industrial REIT plc, Monks Investment Trust plc and a non-executive director of Herald Investment Trust plc and Jupiter Fund Management plc.

 

Karl (or any person that may be a connected party to Karl) has a beneficial interest in 12,500 shares of the Company at the date of this announcement.

 

There are no further details required to be disclosed pursuant to section 9.6.13 of the UKLA Listing Rules.

 

Contact details

 

 

Notes

 

1.  Note that references in this announcement to Apax Global Alpha Limited have been abbreviated to "AGA" or "the Company". References to Apax Partners LLP have been abbreviated to "Apax Partners" or "the Investment Adviser"

2.  This announcement is not for release, publication or distribution, directly or indirectly, in whole or in part, into or within the United States or to "US persons" (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")) or into or within Australia, Canada, South Africa or Japan. Recipients of this announcement in jurisdictions outside the UK should inform themselves about and observe any applicable legal requirements in their jurisdictions. In particular, the distribution of the announcement may be restricted by law in certain jurisdictions.

 

About Apax Global Alpha Limited

 

AGA is a Guernsey registered closed-ended investment Company listed on the London Stock Exchange. It is regulated by the Guernsey Financial Services Commission.

 

AGA's objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.

 

The investment policy of the Company is to make Private Equity investments in Apax Funds, and Debt Investments, derived from the insights gained via Apax's Private Equity activities.

 

Further information regarding the Company and its publications are available on the Company's website at www.apaxglobalalpha.com.

 

About Apax Partners LLP

 

Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For over 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

 

Apax is authorised and regulated by the Financial Conduct Authority in the UK.