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Altix Alt.1
Key Statistics
Fund Size
€60M
Target Return
8.8%
Launch Year
2023
Min. Investment
€100,000
Availability
Closed
Structure
Coöperatief
Product Category
Closed-end
Domicile
Netherlands
GP Type
Multi
Liquidity Level
Low (5+ years)
Management Fee
1%
Carry
None%
High Water Mark
No
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
12
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Stressed
-4.37%
Moderate
6%
Favorable
8.77%
Average Total Cost Level (KID)
4.8%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Portfolio Composition
Information about fund
Altix’s First Fund: €60 Million into Five Mid-Market Funds
Altix Alt.1 was the first fund from Amsterdam-based Altix, and it set the template the firm has followed since: a Dutch cooperative owned by private investors that pools their money and commits it to a handful of institutional private equity funds that typically demand tickets of several million euros. Alt.1 closed on 26 March 2024 with some €60 million from more than 150 investors, 20% above its €50 million target, and is no longer open to new investors.
Key Figures
Fund Size
€60M
Closed 26 Mar 2024, target €50M
Investors
150+
Dutch private investors
Underlying Funds
5
Rivean, Gilde Healthcare, Quadrum, Inflexion, Axcel
Target Multiple
2.0–2.5x
Over 12-year term
Fees
1% / no carry
Underlying fund fees apply
Liquidity
None
12-year lock-up
Portfolio
The portfolio consists of five underlying funds: Rivean Capital, Gilde Healthcare, Quadrum Capital, Inflexion and Axcel Partners — well-established Dutch, British and Nordic managers operating in the mid-market buyout and growth space. At the time of the close those funds had made 16 investments on Alt.1’s behalf; Altix expects the final look-through portfolio to comprise 80 to 100 companies. Invested capital is targeted to return 2.0 to 2.5 times over the fund’s twelve-year life.
Underlying Funds
| Rivean Capital | Benelux/DACH mid-market buyouts (formerly Gilde Buy Out Partners) |
| Gilde Healthcare | Healthcare buyouts and growth, Netherlands |
| Quadrum Capital | Dutch lower mid-market buyouts |
| Inflexion | UK mid-market private equity |
| Axcel Partners | Nordic mid-market buyouts |
Terms
Terms are straightforward by private equity standards: the minimum subscription was €100,000, the management fee is 1%, and — in a deviation from the industry norm — Altix charges no carried interest of its own, although the underlying funds charge theirs. There is no liquidity: capital remains locked for the full twelve years, and distributions arrive only as the underlying funds sell companies. The KID classifies the fund as risk class 6 of 7, with a moderate scenario of 6% a year and total costs of 4.8% a year including the underlying funds’ fees.
Deepdive & Related Funds
Other Altix Capital Funds
Altix Alt.2
Alt.2 is an investment fund that provides access to a diversified portfolio of 4 to 8 European Private Equity funds, targeting mid-market companies. The fund emphasizes the mid-market segment, which offers opportunities alongside higher performance variability. Investors gain exposure to over 100 companies through selected funds with a streamlined structure. The portfolio includes funds such as Inflexion, H2 Equity Partners, Egeria, Pollen Street, IceLake, and Forbion.
Altix Alt.3
Alt.3 is an investment fund that provides access to a diversified portfolio of 8-10 European Private Equity funds, targeting mid-market companies. The fund emphasizes the mid-market segment, which offers opportunities alongside higher performance variability. Investors gain exposure to over 100 companies through selected funds with a streamlined structure. The portfolio of predecessor Alt.2 includes funds such as Inflexion, H2 Equity Partners, Egeria, Pollen Street, IceLake, and Forbion.
Altix Alt.4
Alt.4 is the fourth fund-of-funds from Dutch platform Altix, currently open for subscription. It invests in 10 to 12 leading European mid-market private equity funds, together backing more than 120 companies with growth potential. The fund targets a 10% expected net annual return; confirmed portfolio commitments include Axcel VIII, Investindustrial Lower Mid-Market IV and Gilde Healthcare Private Equity V. Predecessor Alt.3 closed in April 2026 with EUR 140 million from 450+ investors.
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