Apax Global Alpha Limited has announced its quarterly results for the period ending September 30, 2023. The company achieved a Total NAV Return of (0.1%) in the three months, with adjusted NAV largely unchanged at €1.3 billion. The Private Equity portfolio remained resilient, with earnings growth being the main driver of NAV returns. The company received €35 million in distributions from the Apax Funds and deployed €28 million across two new Private Equity investments in the quarter. The Debt portfolio achieved a Total Return of 5.6% in the quarter. The company's invested portfolio was split 74% in Private Equity and 25% in Debt investments, with the remaining 1% invested across three Equity positions. At the period end, the company had €119 million in cash in anticipation of calls from the Private Equity portfolio in Q4 2023. The company also entered into a new multi-currency revolving credit facility of €250 million. The invested portfolio was split across the four core Apax sectors: Tech & Digital (39%), Services (28%), Healthcare (17%), and Internet/Consumer (16%). The Debt portfolio achieved a 42.3% cumulative constant currency Total Return over the past five years. There was one new investment in Debt in Q3 2023 and six realizations.