Last week, we gathered at Allianz Stadium with our investors, advisers, partners and portfolio company executives to report back on our 2025 performance and share the opportunities Allegro is approaching.

Our north star remains at the centre of everything we do: to be high-impact investors who deliver asymmetric and outsized returns through the active transformation of complex, stressed, or constrained businesses.

This principle defines how we approach every opportunity, and with a team of nearly 40 investment and transformation professionals, we’re built to turn challenges into opportunities and create exceptional businesses along the way.

2025 was a year of disciplined execution. In September we welcomed BE Campbell into the Fund IV portfolio in partnership with the Campbell family, a classic Allegro-style deal.

In a market shaped by geopolitical uncertainty, rapid tech disruption and lower IPO volumes, we were proud to complete three successful exits: Questas, JSW, and Terrex Seismic. These conditions call for discipline and creativity, and our approach of buying well, structuring effectively and transforming from the inside out is proving its strength.

We’re excited to announce the launch of Fund V, which builds on the proven strategy of Fund IV. Our focus remains on turnarounds, carve-outs, and growth partnerships, with the same hands-on, active approach.

One of the AGM highlights was our “Frontlines of Disruption” panel. AI dominated the conversation, with John Ball, CEO of Scyne Advisory, and Dina Tutungi, CEO of Slater + Gordon, sharing how they’re embracing technology to drive transformation. From creating automated managed services to redesigning legal processes, it’s clear that AI is an essential value creation lever in 2025 and beyond.

Christine Holgate, Executive Chair of Team Global Express, offered a different lens: retail disruption driven by China-based eCommerce. Her insights on the impact of trade dynamics, platforms like Temu, and the importance of last-mile partnerships added a powerful perspective on how traditional logistics players are adapting to find opportunities in global shifts.

A special thanks to Peter Tonagh, Executive Chair of Quantium, who provided a live demo and insights into how GenAI can be used as a thought partner, research assistant, content generator and coach.

Thanks to everyone who joined us at our AGM. We’re proud to be on this journey with you and excited for what’s ahead.