Altamir - Registration Document 2016

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FINANCIAL AND LEGAL INFORMATION 1 Presentation and history of the Company
1.2 PRESENTATION AND HISTORY OF THE COMPANY
1.2.1 GENERAL PRESENTATION
PROFILE
Altamir is a listed private equity company (Euronext Paris,
Compartment B) with assets under management of close to
€800m. TheCompanywas founded in 1995 to enable all investors
to gain access via the stock market to private equity, one of the
best-performing asset classes over the long term.
Altamir invests exclusively in or alongside the funds managed
or advised by Apax Partners France and Apax Partners LLP, two
leadingprivate equity firmswith40years of investing experience.
As a majority or lead shareholder, the Apax funds carry out LBO
andgrowth capital transactions and support corporate executives
as they implement ambitious value-creation objectives.
In this way, Altamir offers investors access to a portfolio of
companies with high-growth potential, diversified by geography
andby size across the four sectors inwhichApax specialises: TMT
(Technology, Media andTelecom), Retail &Consumer, Healthcare,
and Business & Financial services.
The Company opted at inception for the status of “SCR” (société
de capital risque) and has maintained this status ever since. As
such, Altamir is exempt fromcorporation tax and the Company’s
investors may benefit from tax exemptions, subject to specific
holding-period and dividend-reinvestment conditions.
Altamir is not an alternative investment fund (AIF) subject to
the exemption for holding companies mentioned in para. 7 of V
of Article L. 532-9 of the French Monetary and Financial Code.
This does not presume, however, any contrary position that the
European or other competent authorities might take in future.
OBJECTIVES
To create value for shareholders over the long term, Altamir
pursues the following objectives:
increase Net Asset Value per share (NAV) by outperforming
the benchmark indices (Morningstar, LPX Europe, CAC Mid &
Small);
maintain a simple, attractive, and sustainable dividend policy;
reach a critical size of €1bn in assets under management in
order to:
be a key partner of Apax Partners MidMarket SAS and Apax
Partners LLP,
increase the liquidity of Altamir shares, thus attracting a
larger number of investors and reducing the discount.
INVESTMENT POLICY
Altamir invests exclusively with Apax Partners.
Since 2011, Altamir has invested:
in the fundsmanagedbyApax PartnersMidMarket France SAS:
€277m in Apax France VIII,
€226m to €306m committed to Apax France IX;
in the funds managed by Apax Partners LLP:
€60m in Apax VIII LP,
€138m in Apax IX LP;
occasionally through direct co-investment alongside the funds
managed by Apax Partners MidMarket SAS andApax Partners
LLP.
Before 2011, Altamir co-invested:
directly alongside the funds managed by Apax Partners SA.
INVESTMENT STRATEGY
Altamir’s strategy is clear, differentiated and proven. It is
inextricably linked to that of Apax Partners, which consists in:
investing in growth companies, diversified in terms of size and
geography:
medium-sized European companies (enterprise values
between €100m and €1bn),
larger companies (enterprise values of €1bn to €5bn) in
Europe, North America and emerging markets (China, India
and Brazil);
investing only in Apax’s four sectors of specialisation: TMT,
Retail & Consumer, Healthcare, and Business & Financial
services;
carrying out LBO/growth capital investments;
establishing positions as majority or lead shareholder;
creating value, aiming for a multiple of two to three times the
amount invested;
investing responsibly, measuring the ESG (Environment, Social,
Governance) performance of each investment.
16 REGISTRATION DOCUMENT 1 ALTAMIR 2016