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Apax Global Alpha said total net asset value rose 13.4% in the first half of the year, driven by 'strong' performance of its private equity portfolio.
For the half-year ended 30 June 2019, total net asset value return rose 13.4%, led by private equity contributing 12.8%, derived investments 0.9%, foreign exchange 0.5%, while costs and other movements reduced growth by 0.8%
New investments of €82.3m were weighted towards debt, as six new debt positions were added to the derived debt portfolio compared to two equity investments in the period, the company said.
The company declared a semi-annual dividend of 4.86 pence per share declared, equivalent to 2.5% of euro NAV at 30 June.