Launch of the Odyssey 2024 Vintage (Part 1)

Louis Flamand, our Chief Investment Officer, presents the strategy of Vintage Odyssey 2024. In particular, he explains the evolution of geographical diversification and the interest of Lower to Mid Market funds attached to Large-Cap organizations for this new Vintage , while recalling our cautious investment approach which targets specific sectors and organizations with a proven track record of value creation.

At Altaroc, for Vintage 2024, we are focusing on seven fund managers - Bridgepoint, Nordic Capital, Inflexion, General Atlantic, Five Arrows, Summit and Vista - covering the European and North American Mid-Market in the technology, healthcare, services and digital consumption sectors, to ensure a diversified portfolio with controlled risk.

Bridgepoint Development Capital (BDC) is the lower to mid-market fund of Bridgepoint , in which Altaroc Odyssey 2024 has committed through BDC V. This fund targets high-growth companies valued between €50 million and €250 million, mainly in the Services, Technology and Healthcare sectors. BDC benefits from the resources of a large organization, giving it a competitive advantage over smaller funds. BDC's mature funds have solid performances with an average multiple of 2.6x net and an IRR of 30%.apital V, selected for the Vintage Altaroc Odyssey 2024.

Vitruvian Partners is a global reference in Growth Equity and Growth Buyout, initially in Europe and then internationally. The firm targets companies with strong organic growth, often resulting from technological or regulatory disruptions, in the technology, healthcare, services and consumer sectors. Its flexible strategy, combining growth equity and buyout, has generated solid performances with an average multiple of 2.6x net and an IRR of 23%. Altaroc Odyssey 2024 has committed to the Vitruvian Investment Partners V fund (€6.5 billion).

Thoma Bravo is a leading North American LBO firm specializing in software publishers, founded by Carl Thoma and Orlando Bravo. The firm adopts a rigorous operational approach, optimizing margins from the first year of ownership and favoring external growth. Its mature funds display solid performances with an average multiple of 2.9x net and an IRR of 29%. Altaroc is involved in two of their funds: Thoma Bravo XVI ($20 billion) for the large cap and Discover V ($7 billion) for the upper mid-market.

Summit Partners is a leading player in Growth Equity and Growth Buyout in North America, recognized for its proactive approach to direct sourcing (cold calling). The firm invests in high-growth companies, primarily in technology, healthcare, services and consumer goods. With a 40-year track record, its mature funds display an average performance of 2.9x net and 33% IRR. Altaroc Odyssey 2024 has committed to the Summit Partners Growth Equity Fund XII, with a target size of $9 billion.