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Apax Global Alpha Ltd on Wednesday said the scheme for its acquisition by investment vehicle Janus Bidco Ltd had become effective. Janus Bidco is a newly-formed Guernsey, Channel Islands-registered company which shares AGA’s advisor, Apax Partners LLP. AGA is a London-based investment trust offering exposure to Apax Private Equity funds, and direct debt investments, while Apax Partners is a private equity advisory firm. Janus Bidco’s offer values AGA at an estimated £794.5 million. It is financed by funds and investors which are either managed or advised by Ares Management LLC, a subsidiary of Los Angeles-based alternative investment manager Ares Management Corp. Back in July, AGA agreed to the cash acquisition deal, which was approved by shareholders earlier this month and court-sanctioned in Guernsey on Monday. AGA shares were suspended from trading on Wednesday. It is no longer in an offer period and its board now consists of Janus-elected directors. It expects to delist from London’s Main Market by Thursday. The firm posted a lower net asset value at the end of its first half, with NAV down to 197 pence at June 30 from 208p at December 31. AGA’s total return slipped to negative 6.1% in the first half of 2025 from negative 1.4% a year earlier, which the firm attributed to a weaker dollar against the euro. Former Chair Kart Karl Sternberg at the time expressed ‘regret at the loss of one of the UK’s listed private equity funds...despite the lull in performance over the last few years.’ AGA was deleted from the FTSE 250 index on Friday, with Anglo-Eastern Plantations PLC taking its spot. AGA shares were last quoted at 164.40 pence, prior to their suspension, having risen 17% in the last 12 months. Ares Management Corp shares were flat at $178.61 during after-hours trading in New York. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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