Altix Alt.3

Alt.3 - History and Purpose

Altix Alt.3 is a closed-end private equity fund launched in 2025 by Altix Capital, a Dutch investment firm. The fund aims to provide individual investors with diversified exposure to European mid-market private equity through a fund-of-funds structure. By investing in a selection of established private equity funds, Alt.3 offers access to over 100 underlying companies, focusing on the mid-market segment, which is known for its potential for higher returns alongside increased performance variability.

Visit Fundscouter’s fund profile for predecessor Alt.2 here.

Structure & Liquidity

• Structure: Coöperatief (Cooperative)
• Domicile: Netherlands
• Fund Size: €80 million
• Minimum Investment: €100,000
• Management Fee: 1%
• Performance Carry: None
• Liquidity: Low; 12-year lock-up period
• Availability: Open to public investors
• Currency: EUR

Alt.3 is structured as a traditional closed-end fund with a 12-year lock-up period, reflecting its focus on long-term investments in private equity. The cooperative structure offers potential tax advantages under Dutch law.

Strategy

Alt.3 invests in a diversified portfolio of 8 to 10 European private equity funds, targeting mid-market companies primarily in the Netherlands and the UK. The fund's strategy includes allocations to buyout, growth equity, and venture capital investments. By selecting funds managed by experienced private equity firms, Alt.3 seeks to mitigate risks associated with mid-market investments and capitalize on opportunities for attractive returns.

Portfolio Composition

• Inflexion Enterprise Fund VI
• H2 Equity Partners NL Fund II
• Egeria Private Equity Fund VI
• Pollen Street Capital V (PSC V)
• IceLake Capital III
• Forbion Growth Opportunities III

These funds collectively provide exposure to over 100 companies across various sectors, enhancing diversification.

Performance

• Target Return: 8.77% annualized
• Realized Annualized Return Since Inception: Not available
• KID Risk Indicator: 6 out of 7
• Projected Annual Returns (KID):
• Stressed Scenario: -4.37%
• Moderate Scenario: 6%
• Favorable Scenario: 8.77%
• Average Total Cost Level (KID): 4.8% annually

The fund's risk level is classified as 6 out of 7, indicating a high-risk investment, which is typical for private equity funds. The projected returns vary based on market conditions, with the highest expected in favorable scenarios.

Management Team

Altix Capital manages Alt.3, leveraging its expertise in private equity investments. The firm's team has been working in private equity, investment banking, and M&A, for some time and has the required experience and network to tap into the best mid market private equity funds.