- Apax Global Alpha said its total net asset value rose 4.9% in the third quarter, driven strength in its private equity portfolio and foreign exchange gains.

For the three ended 30 September 2019, private equity contributed 3.1%, derived investments 0.6% and foreign exchange 2.3%.

Costs and other movements reduced growth by 0.3%. New private equity investments or commitments totalled €14.1m in three new investments.

New derived investments of €23.4m were allocated toward debt.

'Excellent performance in private equity reflects mainly value creation from the Apax VIII and Apax IX fund portfolio companies,' Apax Global Alpha said.

'Returns from derived debt were strong, and weighting of derived equity in the portfolio was further reduced.'

Story provided by