Apax Partners appoints new chairman and CEO

Misrahi will replace Maurice Tchenio, the co-founder and long-standing head of Apax Partners. Tchenio co-founded the firm in 1972, created France's first FCPR vehicle - one of the most widely used fund structures in the country - and co-established France's private equity trade body AFIC in 1984.

Misrahi has been working at Apax Partners for more than 19 years. He will now lead a team of 20, including eight partners. Tchenio will remain responsible for monitoring the performance of Apax Partners' existing portfolio.

In addition, Tchenio is focusing on the creation of AlphaOmega, a foundation based on the venture philantropy model. It will aim to support innovative social enterprises worldwide to scale them up and reinforce their social impact.

The firm is currently in the process of raising capital for its new fund, Apax France VIII, which has received €600m of commitments to date. The final closing of the fund will take place in the next few months.

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