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Legal action filed against Moneta Asset Management

Paris, 16 March 2016 – Altamir filed a request with the President of the Commercial Court of Paris for interim order to be issued against Moneta Asset Management with respect to a note dated 17 April 2015 that included unfounded and misleading allegations on Altamir's performance and management fees. This note has been broadly circulated by Moneta Asset Management and published online on its website.

The President of the Court held admissible the action by Altamir and decided to appoint an independent legal expert to evaluate the extent to which the publication of this note has affected Altamir's share price and the damage caused to Altamir. The expert will also have to give his opinion on the possible internal causes that can explain the share price performance and discount and on management fees. The President of the Court has not ordered to cease publishing the note considering that the urgency of the situation was not proven.

The legal action filed by Altamir is based on a report written by Mr Didier Kling, an Expert to the Paris Court of Appeal and accredited by the French Cour de Cassation, which concludes:

“In the end, it therefore appears that the demonstrations produced by Moneta Asset Management in its note dated 17 April 2015, whether with respect to Altamir's management fees or its performance, are biased and tainted with many methodological inconsistencies that do not comply with standard practice. Consequently, all of the conclusions drawn are unfounded and misleading and, as such, could misguide readers and skew their judgement.”
 

About Altamir


Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995 and with more than €650m in assets under management. 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 France 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, Retail & Consumer, Healthcare, Business & Financial Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across 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
 

Contact
Agathe Heinrich
Tel: +33 1 53 65 01 74
E-mail: agathe.heinrich@altamir.fr



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