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Objectives and strategy

Objectives

To create value for its shareholders over the long term, Altamir has the 2 following objectives:

  • Grow NAV per share and outperform the relevant indices (LPX Europe and CAC Mid&Small)
  • Maintain a sustainable, simple and attractive dividend policy: 2 to 3% of year-end NAV

Altamir’s investment strategy

Relies on Apax Partners’:

Invest in high-growth companies, diversified by size and geography:

  • Small and mid-cap companies in Continental Europe (with enterprise value between €50m and €500m)
  • Larger size companies (with enterprise value between €500m and €3bn) in Europe, North America and emerging countries (mainly China and India)
  • Targeting 4 sectors of specialisation: TMT, Consumer, Healthcare, Services
  • Making buy-out and growth capital investments
  • Having majority or lead positions
  • Creating value with a target of 2 to 3X the amount invested over a 5-year period
  • Being a responsible investor, monitoring ESG (Environnement, Social, Gouvernance) performance of each investment.

Investment policy

Altamir invests alongside and through funds managed by Apax Partners:

Before 2011: co-investments alongside the funds managed by Apax Partners SA.

Since 2011: in the funds managed by Apax Partners SAS and Apax Partners LLP and co-investments alongside these funds.

At 30 June 2020:

  • 2 companies held from the legacy business and through the AHO20 fund: Alain Afflelou and THOM Group
  • 6 co-investments: Entoria (ex Ciprés), InfoVista, Marlink, Snacks DéveloppementThoughtWorks and Graitec.