Apax Partners has held a final closing of Apax VIII, a $7.5 billion global fund, increasing Apax’s total committed capital to more than $40 billion across all funds. The new fund was raise according to the timetable set by Apax and closed within fifteen months of the first closing in March 2012.
“We are pleased to announce today the final close of Apax VIII and would like to thank our existing and new investors for their support and confidence in the Apax team,” said Martin Halusa, CEO of Apax Partners. “We believe the strength of commitments received reflects confidence in our ability to add real value and is a clear endorsement of Apax’s global growth investing model. With a track record spanning three decades and several economic cycles, and a well-resourced and experienced team, we believe Apax VIII is well positioned to be successful and we are excited by the opportunities we see ahead.”
The new fund received support from investors around the world including public and private pension funds, sovereign wealth funds, insurance companies and high net worth individuals. The fund’s committed capital is split nearly evenly between Euros (51%) and US Dollars (49%) and commitments were global in nature, with 43% coming from North America, 25% from Europe, and the remainder from Asia, the Middle East and Latin America. A significant portion of commitments came from existing long-term investors.
Apax VIII will maintain the same investment strategy as prior funds by investing in the technology & telecom; retail & consumer; media; healthcare; and financial & business services sectors. Apax is based in London and New York (www.apax.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-24-13