Altamir - Registration Document 2016

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FINANCIAL STATEMENTS 3 Consolidated financial statements
NOTE 27 Contingent liabilities
The contingent liabilities of the Company broke down as follows:
(in euros) 31/12/2016 31/12/2015
Irrevocable purchase obligations (investment commitments) 172,514 15,910,448
Other long-term obligations (liability guarantees and other) 6,184,051 6,184,051
TOTAL 6,356,565 22,094,499
Altamir’s investment commitments in Apax France VIII-B 16,877,068 91,363,175
Altamir’s investment commitments in Apax VIII LP 0 7,409,145
Altamir’s investment commitments in Apax France IX-B 295,950,000 17,000,000
Altamir’s investment commitments in Apax IX LP 138,000,000 0
TOTAL 457,183,633 137,866,819
The tables above show the subscription commitments not yet
called as of 31 December 2016 and 31 December 2015.
Altamir committed to invest €60m in Apax VIII LP. As of
31 December 2016, the total amount had been invested.
Altamir had committed to invest between €200m and €280m in
Apax France VIII-B. Altamir’s definitive commitment is €276.7m.
As of 31 December 2016, the amount invested was €259.8m.
Altamir has committed to invest €138m in Apax IX LP. As
of 31 December 2016, no investment had been made. Two
investments have now been made by this fund: €2.5m was
invested in Dominion Marine Media in 2016, although the capital
has not yet been called; and approximately €9mwas invested in
Unilabs II in February 2017.
Altamir has committed to invest between €220m and €300m in
Apax France IX-B. As of 31 December 2016, the amount calledwas
€4.05m. The amount actually investedwas €64.5m. The fund did
not call this amount; it was funded by credit lines.
The table above does not include distributions paid by the
Apax VIII LP and Apax France VIII-B funds, which can legally be
called back by the management company to meet the funds’
cash requirements, principally for follow-on investments in their
portfolios. The investment period of these two funds has now
expired and they cannot make any new investments.
For information, the sums distributed that can legally be called
back amount to €29.6m for Apax France VIII-B and €5.1m for
Apax VIII LP.
As part of the divestment of Buy Way, Altamir provided a
guarantee, capped at 15%of the sale price, i.e. €6,184,051, in order
to meet any third-party claims, and to cover the sellers’ filings
and any tax risks.
27.1 DIRECT INVESTMENT COMMITMENTS
Companies
Commitments
as of
31/12/2015
Investments
during the year
Cancellation
of
commitments
as of 31/12/16
New
commitments
as of 31/12/16
Commitments
as of 31/12/16
Listed securities
Investment commitment in Altimus 172,514
Unlisted securities
Investment commitment in Marlink 15,910,448 15,910,448
TOTAL 15,910,448 15,910,448 0 172,514 0
124 REGISTRATION DOCUMENT 1 ALTAMIR 2016