On Friday evening, private equity firm Altamir reported that it had maintained a good level of activity in 2022, despite a geopolitical and economic context deemed to have "deteriorated".

The company, which works with funds managed by Apax Partners, said it had invested 184.5 million euros over the year, compared with 368.8 million in 2021), including 129.4 million euros in nine new companies.

At the same time, Altamir recorded 123.9 million euros in proceeds from disposals over the year, compared with 636 million in 2021, including 36.1 million from five total disposals.

In a press release, the company explains that the private equity market experienced a significant slowdown in 2022 in an environment marked by falling equity markets, the return of inflation and rising interest rates.

Altamir explains that company valuations, which had reached very high levels, are in the process of adjusting due to lower multiples, and that managers are waiting for them to return to more reasonable prices before positioning themselves for investment opportunities.

As at December 31, 2022, its portfolio comprised 69 holdings, including 28 in the technology and telecommunications sectors.

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