Paris, 4 February 2020 – As of 31 December 2019, Altamir's Net Asset Value surpassed €1 billion (estimated NAV), vs. €792.9 million as of 31 December 2018 and €886.4 million as of 30 September 2019.
After posting a 16% advance in the first half of 2019, NAV saw another double-digit increase in the second half, bringing its total rise over the full year to nearly 30% (including the dividend paid in July).
“2019 was a landmark year, with very high portfolio turnover and an almost 30% rise in NAV, which reached the long-term objective of €1 billion. These results demonstrate that our yearslong strategy to internationalise and diversify is a judicious one," commented Maurice Tchenio, CEO of Altamir Gérance.
Definitive NAV as of 31 December 2019 as well as objectives for 2020 and the years to come will be announced on 11 March 2020 (post-trading).
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Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with an investment portfolio of nearly €1bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of private equity investments.
Altamir's investment policy is to invest via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.
In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and larger companies in Europe, North America and key emerging markets).
Altamir derives certain tax benefits from its status as an SCR ("Société de Capital Risque"). As such, Altamir is exempt from corporate tax and the company's investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.
For more information: www.altamir.fr
Claire Peyssard Moses
Tel.: +33 1 53 65 01 74