Apax Partners MidMarket has raised 1 billion euros for Apax France IX. The fund’s limited partners include pension funds, fund of funds, insurers and family offices. Apax France IX focuses on French and European small to medium sized companies valued at up to 500 million euros that are in the TMT, retail and consumer goods and healthcare and services sectors. Rede Partners advised Apax Partners MidMarket on the fund while Wilkie Farr & Gallagher LLP and Moses & Singer LLP provided legal advice.
Paris, 16 mars 2017 – Apax Partners MidMarket, a leading French and European private equity firm, today announced that it has raised €1 billion for its ninth fund, Apax France IX.
Apax France IX received strong support from a large number of existing Apax France VIII investors, historical investors and around 20 new investors. The capital, primarily raised from pension funds, funds of funds, insurers and family offices, came 20% from North America, 31% from Europe and 49% from France.
Apax France IX’s investment strategy is consistent with prior funds focusing on French and other European high-growth SMEs valued at up to €500 million within Apax Partners’ four sectors of specialisation: TMT, Retail & Consumer Goods, Healthcare and Services. The capital raised will be managed by a team of 22 professionals and invested primarily in our target markets: France, Benelux and Switzerland.
Apax France IX is already 23% invested across three companies: InfoVista, leading global provider of network performance software solutions, Sandaya, an outdoor accommodation group that manages four- and five-star campsites in France and Spain, and Marlink, the world’s leading provider of mobile satellite communication services. Apax France IX investors have also co-invested €190 million in these three transactions.
2016 was an active year in terms of investments, divestments (Capio, Infopro Digital and TEXA) and value creation for the portfolio companies following the successful completion of several transformative build-up transactions (Europe Snacks, Groupe INSEEC, InfoVista, Marlink and THOM Europe).
Eddie Misrahi, President and Chief Executive Officer of Apax Partners MidMarket, said, “The success of this fund-raising demonstrates the trust that our investors place in our team and our investment strategy. It is also the result of our time-honoured sector-driven approach and our ability to identify and help talented entrepreneurs develop their companies.”
Apax Partners MidMarket was advised by London-based Rede Partners, an independent fund raising and secondary adviser to the private equity industry. The legal advisors in connection with the fund raising were Willkie Farr (general fund advisor and coordinator), Moses & Singer LLP (legal US advisor), Reed Smith (tax advisor) and Paul Hastings (Equity Bridge).
About Apax Partners
Apax Partners is a leading private equity firm in French-speaking European countries. With 45 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3 billion. These funds invest in fast-growing middle-market companies across four sectors of specialisation.