Apax Global Alpha Limited (LON: APAX) has released its estimated Adjusted NAV as at 31 December 2023, following the receipt of the Apax Funds' valuations for Q4 2023. The company estimates its Adjusted NAV to be approximately €1,288m or €2.62 cents per share / £2.27 pence per share. The FY23 Total Adjusted NAV Return was 4.1% (6.1% constant currency) with Q4 Total Return of 1.9% (4.5% constant currency).

Ralf Gruss, Partner at Apax and a member of the AGA Investment Committee, commented on the performance, stating, "Despite weaker economic activity in 2023, there was good momentum across the Private Equity portfolio with deal activity picking up in the second half of the year as more compelling investment opportunities emerged."

The valuations for the Apax Funds to which AGA has an exposure have reported movements for the period from 30 September 2023 to 31 December 2023. The company's 2023 Annual Results, including details on the composition and valuation of the AGA portfolio as at 31 December 2023, will be released on 5 March 2024.

It's important to note that the company holds exposures to the Apax Funds via various individual holdings with different fee structures and commitments in different currency sleeves of the Apax Funds. Additionally, the valuations are expressed net of any estimated carried interest payable should the funds hypothetically be liquidated as at 30 September 2023 and 31 December 2023 respectively.

The announcement may contain inside information as stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR"). It 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" 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.