A vehicle managed by Apax Partners and funded by Ares Management has agreed to acquire Apax Global Alpha (AGA) trust in a deal worth £794.5m.
The cash offer represents £1.65 (€1.9) per share, a premium of around 18.8% to the closing price per AGA share of 138.6p on the last business day prior to the commencement of the offer period, 18 July 2025, according to a stock exchange notice today (21 July). However, the offer represents a discount of approximately 17.1% to AGA's preliminary unaudited Q2 net asset value (NAV) per share of around £1.98 (€2.29). European demand for private markets on the rise The takeover will be funded by one or more funds managed, advised or sub-advised by private equity and debt giant Ares Man...
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