Apax Raising $13.1B

Apax Partners Worldwide has closed $212 million of a purposed $13.1 billion fund, according to a regulatory filing.

The new fund would be more than double the $5.36 billion Apax Europe VI, its previous fund, raised in 2004.

The Pennsylvania State Employees’ Retirement System approved a $133 million investment in the fund in January of this year.

Fundraising for buyout and mezzanine funds in Europe has slowed over the past several quarters. Ten funds raised $11.8 billion during the first quarter of 2007, down from the 21 funds that raised $17.3 billion during the same period last year according to data from Thomson Financial (publisher of PEHub.com).

Still, firms such as Kohlberg Kravis Roberts & Co. are beginning to talk about raising new European funds. One KKR limited partner told recently told PE Week that it was meeting with the firm to discuss re-upping for a much larger European vehicle.