Altamir

Termination of coverage

24 May 2017

Edison Investment Research is terminating coverage on Altamir (LTA). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant. MORE »

Outperforming listed private equity peers

14 October 2016

Altamir (LTA) achieved a 3.9% NAV total return in H116 compared to -1.1% for the LPX Europe index, with EBITDA growth at portfolio companies outweighing the effect of lower market multiples. During the period, three investments totalling €102.6m were finalised and €65.9m was committed to five new investments. Divestment proceeds and revenues totalled €147.2m, including €93.5m from the sale of Infopro Digital, representing a multiple of close to 3.0x cost. Commitments of €300m and €138m have been made to the newly launched Apax France IX and Apax IX LP funds. MORE »

Access to Apax Partners' private equity expertise

10 March 2016

Altamir (LTA) invests in and alongside European and global funds managed by private equity specialists, Apax Partners, whose approach is differentiated by sector specialisation – key in gaining insight and creating a wide network to facilitate transactions. Relatively concentrated company exposures demonstrate conviction in investment selections but the portfolio is well spread by sector and vintage. Altamir reported a 19.1% NAV increase in 2015 and has delivered NAV total returns ahead of the LPX Europe index over one, three, five and 10 years while the 10-year average valuation uplift on realisations of over 40% supports the contention that portfolio valuations are conservative. A wide discount to NAV and the 5.4% yield are further points for potential investors to consider. MORE »