REG - Apax Global Alpha Ld - Funds advised by Apax invest in Swing Education

Apax Global AlphaAnnouncement

02/06/2023 07:00

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RNS Number : 4212B  Apax Global Alpha Limited  02 June 2023

 

Apax Global Alpha Limited

Funds advised by Apax invest in Swing Education

 

Apax Global Alpha, the closed-ended investment company providing access to the
Apax Private Equity Funds, today announced that it expects to invest
approximately €1.7m in Swing Education on a look-through basis(1).

 

On 1 June 2023, the Apax Global Impact Fund ("AGI"), in which AGA is a limited
partner, announced an investment in Swing Education, a pioneering online
marketplace that connects schools and substitute teachers, as part of a $38m
Series C funding round.

 

AGA's investment is calculated based on the look through position of AGI's
overall investment in Swing Education and is translated based on the exchange
rate at close2.

 

Swing Education is an online marketplace that connects substitute teachers
with schools. Founded in 2015 by former K-12 educators and administrators,
Swing makes it easier for schools to find reliable, qualified substitute
teachers when they need them most. With over 300,000 absence days filled to
date, Swing is dedicated to improving the experience of schools finding
substitute teachers, of candidates entering the substitute teaching field, and
of students continuing to learn disruption-free.

 

AGA, whose shares are listed on the London Stock Exchange, provides investors
with access to a diversified portfolio of private equity funds advised by Apax
as well as a focused portfolio of predominantly debt investments ('Derived
Investments'). In March 2022, AGA made a commitment of $60m to AGI.

 

For more information about the transaction, please visit:
https://www.apax.com/news/press-releases/
(https://www.apax.com/news/press-releases/)

 

 

END

 

Contact details

Investor Relations - AGA

Katarina Sallerfors

T: +44 7436908492

E: katarina.sallerfors@apax.com

Footnotes

 1.   AGI is yet to hold a final close. Figures are based on assumed final
      commitments and are subject to change.
 2.   Based on Bloomberg closing EUR/USD FX rate on 18 May 2023 of 1.077.

Notes

 

 1.  Note that references in this announcement to Apax Global Alpha Limited have
     been abbreviated to "AGA" or "the Company". References to Apax Partners LLP
     have been abbreviated to "Apax Partners" or "the Investment Adviser"

 2.  Please be advised that this announcement may contain inside information as
     stipulated under the Market Abuse Regulations (EU) NO. 596/2014 ("MAR")

 3.  This announcement is not for release, publication or distribution, directly or
     indirectly, in whole or in part, into or within the United States or to "US
     persons" (as defined in Regulation S under the United States Securities Act of
     1933, as amended (the "Securities Act")) or into or within Australia, Canada,
     South Africa or Japan. Recipients of this announcement in jurisdictions
     outside the UK should inform themselves about and observe any applicable legal
     requirements in their jurisdictions. In particular, the distribution of the
     announcement may be restricted by law in certain jurisdictions

 4.  The information presented herein is not an offer for sale within the United
     States of any equity shares or other securities of Apax Global Alpha Limited
     ("AGA"). AGA has not been and will not be registered under the US Investment
     Company Act of 1940, as amended (the "Investment Company Act"). In addition,
     AGA's shares (the "Shares") have not been and will not be registered under the
     Securities Act or any other applicable law of the United States. Consequently,
     the Shares may not be offered or sold or otherwise transferred within the
     United States, or to, or for the account or benefit of, US Persons, except
     pursuant to an exemption from the registration requirements of the Securities
     Act and under circumstances which will not require AGA to register under the
     Investment Company Act. No public offering of the Shares is being made in the
     United States

 5.  This announcement may include forward-looking statements. The words "expect",
     "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and
     similar expressions (or their negative) identify certain of these
     forward-looking statements. These forward-looking statements are statements
     regarding AGA's intentions, beliefs or current expectations concerning, among
     other things, AGA's results of operations, financial condition, liquidity,
     prospects, growth and strategies. The forward-looking statements in this
     presentation are based on numerous assumptions regarding AGA's present and
     future business strategies and the environment in which AGA will operate in
     the future. Forward-looking statements involve inherent known and unknown
     risks, uncertainties and contingencies because they relate to events and
     depend on circumstances that may or may not occur in the future and may cause
     the actual results, performance or achievements of AGA to be materially
     different from those expressed or implied by such forward looking statements.
     Many of these risks and uncertainties relate to factors that are beyond AGA's
     ability to control or estimate precisely, such as future market conditions,
     currency fluctuations, the behaviour of other market participants, the actions
     of regulators and other factors such as AGA's ability to continue to obtain
     financing to meet its liquidity needs, changes in the political, social and
     regulatory framework in which AGA operates or in economic or technological
     trends or conditions. Past performance should not be taken as an indication or
     guarantee of future results, and no representation or warranty, express or
     implied, is made regarding future performance. AGA expressly disclaims any
     obligation or undertaking to release any updates or revisions to these
     forward-looking statements to reflect any change in AGA's expectations with
     regard thereto or any change in events, conditions or circumstances on which
     any statement is based after the date of this announcement, or to update or to
     keep current any other information contained in this announcement.
     Accordingly, undue reliance should not be placed on the forward-looking
     statements, which speak only as of the date of this announcement.

 

 

About Apax Global Alpha Limited

 

AGA is a closed-ended investment company that provides access to the Apax
Private Equity Funds.  It is listed on the London Stock Exchange (LSE: APAX)
and is regulated by the Guernsey Financial Services Commission.

 

AGA's objective is to provide shareholders with superior long-term returns
through capital appreciation and regular dividends. AGA aims to build and
maintain a global portfolio of investments across four core sectors -
Tech&Digital, Services, Healthcare, and Internet/Consumer, delivering
sustained value across economic cycles.

 

The Company is targeting an annualised Total Return of 12-15% (net of fees and
expenses) including a dividend yield of 5% of Net Asset Value.

 

Further information regarding the Company and its publications are available
on the Company's website at www.apaxglobalalpha.com.

 

 

About Apax

 

Apax Partners LLP ("Apax") is a leading global private equity advisory firm.
For 50 years, Apax has worked to inspire growth and ideas that transform
businesses. The firm has raised and advised funds with aggregate commitments
of more than $65 billion. The Apax Funds invest in companies across four
global sectors of Tech, Services, Healthcare and Internet/Consumer. These
funds provide long-term equity financing to build and strengthen world-class
companies. For further information about Apax, please visit www.apax.com
(http://www.apax.com) .

 

Apax is authorised and regulated by the Financial Conduct Authority in the UK.

 

 

 

 

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