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Apax returns grow in Q3 on boost from private equity portfolio
StockMarketWire.com
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Apax Global Alpha reported strong third-quarter performance as net asset value return grew thanks to a boost from its private equity portfolio.
For the three months ended 30 September 2020, net asset value return was 8.5% as the private equity portfolio returned 12.4% in the quarter. The company paid a dividend of 4.87p during the period.
'Whilst the economic outlook remains uncertain with Covid-19 infection numbers rising across the globe, the Apax Funds' focus on: i) sub-sector expertise; ii) driving business transformation; and iii) investing with modest average entry leverage levels leaves the portfolio well-positioned as the pandemic evolves,' the company said.
Story provided by StockMarketWire.com
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