In QuotedData’s morning briefing 6 August 2024:

• Apax Global Alpha (APAX) announced that Thoughtworks, a portfolio company in the Apax IX Fund, in which Apax Global Alpha Limited is a limited partner, has entered into a definitive agreement to be taken private by Apax Funds for $4.40 per share, which implies a total enterprise value of $1.75bn for Thoughtworks. At the purchase price, the transaction represents an uplift of c.55% to APAX’s last valuation and an uplift of c.€9m (c.€0.02 per share) in the adjusted NAV at 30 June 2024.
• Target Healthcare REIT (THRL) reported a 1.6% uplift in EPRA Net Tangible Assets (NTA) per share to 110.7 pence in the quarter to 30 June 2024, primarily reflecting a 0.8% like-for-like valuation uplift to £908.5m, driven by the portfolio’s inflation-linked rent reviews as well as the positive impact from disposals ahead of carrying value. Adjusted EPRA earnings per share for the quarter was 1.51 pence, fully covering the dividend of 1.428 pence. NAV total return for the quarter was 2.8%. Net LTV reduced to 22.5% (31 March 2024: 25.8%).

We also have an update from Rights and Issues and a new investment by RTW