Paris, 16 March 2017 – Apax Partners MidMarket today announced the closing of the Apax France IX fund at one billion euros. The fund is expected to be invested over the next 3-4 years.
Altamir committed to invest in this fund in 2016, when it was being raised, via the Apax France IX-B vehicle specifically dedicated to it. Altamir's commitment was between €220m and €300m, with the OPTION of adjusting the level of its commitment to available cash every six months.
In order to take into account the final size of the Apax France IX fund without changing Altamir's share of the investments already MADE through this fund (Marlink, InfoVista, Sandaya), Altamir's commitment is now between €226m and €306m, with the option of adjusting the level of its commitment to available cash every six months.
The published 2016 FINANCIAL statements were based on the assumption that the share of Apax France IX-B in the fund would be 30%.
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with almost €800m in assets under management. Its objective is to provide shareholders with long term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.
Altamir's investment policy is to invest via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as an SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Tel: +33 1 53 65 01 74