Apax Partners MidMarket Raises €1B For Ninth Buyout Fund

Mar 16 2017 | 8:17pm ET

Private equity company Apax Partners MidMarket has raised €1 billion in capital commitments for its ninth fund to focus on rapidly growing European and French SME’s.

The new fund, named Apax France IX, received strong support from a large number of existing Apax investors and around 20 new investors, the company said in a statement. Capital was raised primarily from pension funds, funds of funds, insurers and family offices, and came 20% from North America, 31% from Europe and 49% from France.

Fund IX continues with the investment strategy of the company’s prior funds, focusing on high-growth SMEs valued at up to €500 million within Apax Partners’ four sectors of specialization: TMT, Retail & Consumer Goods, Healthcare and Services. The capital raised will be managed by a team of 22 professionals and will target opportunities in France, the Benelux nations and Switzerland.

Apax France IX is already 23% deployed across three investments, the company added. 

“The success of this fund-raising demonstrates the trust that our investors place in our team and our investment strategy,” said Eddie Misrahi, CEO of Apax Partners MidMarket. “It is also the result of our time-honored, sector-driven approach [as well as] our ability to identify and help talented entrepreneurs develop their companies.”

Advisors on the fundraise included London-based Rede Partners, an independent fund raising and secondary adviser to the private equity industry, while legal advisors were Willkie Farr as general fund advisor (led by partner Nathalie Duguay), Moses & Singer as U.S. legal advisor, Reed Smith as tax advisor and Paul Hastings as equity bridge advisor.

Tracing its heritage to 1972, Apax Partners MidMarket is a leading private equity firm in French-speaking European countries. The firm provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3 billion.

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