– GUERNSEY, St. Peter Port – Apax Global Alpha Limited (LSE:APAX) today announced that Michael Bane has accepted an invitation to join the Board, as a non-executive Director and a member of its audit committee, with effect from 3 July 2018.
Mr Bane has more than 35 years of audit and advisory experience, in the asset management industry, including in relation to private equity funds.
He has been resident in Guernsey for over 20 years, currently leading Ernst and Young’s (EY) services to the asset management industry in the Channel Islands and is member of EY’s EMEIA Wealth and Asset Management Board. Prior to EY, he was at PwC, in both London and Guernsey. Mr Bane will retire as a partner at EY on 29 June 2018.
Mr Bane graduated with a BA in Mathematics, from the University of Oxford, and is a member of the Institute of Chartered Accountants, in England and Wales. Mr Bane has no other listed company directorships, other than HICL Infrastructure Company Limited, where it has been announced that he will join the board of that company with effect from 1 July 2018 and he (or any person that may be deemed a person closely associated to him), has no beneficial interest in the shares of the Company, as at the date of this announcement.
About Apax Global Alpha Limited
AGA is a Guernsey registered closed-ended collective investment scheme incorporated as a non-cellular company that listed on the London Stock Exchange on 15 June 2015. It is regulated by the Guernsey Financial Services Commission.
AGA’s objective is to provide shareholders with capital appreciation from its investment portfolio and regular dividends. The Company is targeting an annualised Total Return, across economic cycles, of 12-15% (net of fees and expenses) including a dividend yield of 5% of Net Asset Value.
The investment policy of the Company is to make Private Equity investments in Apax Funds, and Derived Investments which are investments in equities and debt derived from the insights gained via Apax Partners’ Private Equity activities. The Company’s portfolio is expected to be allocated in approximately equal proportions between Private Equity and Derived Investments, although the investment mix will fluctuate over time due to market conditions, investment opportunities, cash flow requirements, the dividend policy and other factors.
For more information : https://www.apaxglobalalpha.com
About Apax Partners LLP
Apax Partners is a leading global private equity advisory firm and over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over €42billion as at 31 December 2017. Funds advised by Apax Partners invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long‐term equity financing to build and strengthen world‐class companies.
For more information : https://www.apax.com
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