ALTAMIR : Altamir commits to investing up to EUR 300m in the Apax France IX fund
Paris, 24 February 2016– Altamir has signed a commitment to subscribe to the Apax France IX fund, for which Apax Partners MidMarket SAS (France) has begun fundraising. The fund is expected to be invested over the next 3-4 years. Altamir will invest via the Apax France IX-B vehicle specifically dedicated to it.
After consultation with Altamir's Supervisory Board, the Board of Directors of Altamir Gérance has decided to commit between €220m and €300m, with the option of adjusting the level of Altamir's commitment to available cash every six months.
This commitment is in line with Altamir's investment policy, which has consisted in investing in funds managed by Apax Partners MidMarket (France) since 2011 and in the funds advised by Apax Partners LLP (London) since 2012 so as to diversify the portfolio internationally.
As previously reported, Altamir has committed to investing between €200m and €280m in the Apax France VIII fund, which is now almost fully invested, and €60m in the Apax VIII LP fund.
Apax Partners LLP has begun fundraising for the Apax IX LP fund. Altamir is currently carrying out advance due diligence with a view to making a commitment to subscribe to this fund during the next few months.
Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with more than €650m 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
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