Apax Global Alpha Limited, a closed-ended investment company, released its quarterly results for the period ended March 31, 2025. The companys Net Asset Value (NAV) was €1.16 billion, with a NAV per share of €2.38/£2.00. The Total NAV Return per share was -2.5%, or 0.5% on a constant currency basis. The companys private equity portfolio showed solid operating performance, with average LTM EBITDA growth of 16.0%, while the debt portfolio achieved a total return of -0.8% in euro terms and 2.5% in constant currency. AGA deployed €52 million in closed private equity investments and expects to receive distributions of €55 million. The companys balance sheet remains robust, with expected capital calls covered 1.8x. Post-period end, Nadya Wells joined the AGA Board. The companys financial calendar for 2025 includes interim results in September and a capital markets day and Q3 results in November.
| Metric | 31 Mar 2025 (EUR) | 31 Mar 2025 (GBP) | 31 Dec 2024 (EUR) | 31 Dec 2024 (GBP) |
|---|---|---|---|---|
| NAV | 1,159m | 970m | 1,227m | 1,015m |
| NAV per share | 2.38 | 2.00 | 2.51 | 2.08 |
| % of NAV | Q1 2025 | Q1 2025 constant currency | ||
| Total NAV Return | (2.5%) | N/A | 0.5% | N/A |
| Total Return - Private Equity | 86% | (2.7%) | 0.3% | N/A |
| Total Return - Debt Investments | 14% | (0.8%) | 2.5% | N/A |
| Cash & Others | 0% | N/A | N/A | N/A |