Apax Partners launches €9bn fund

The large-cap firm would therefore not aim to top its previous vehicle: Apax VII closed on €11.2bn in 2007.

Apax VIII will reportedly look to make 25 investments worldwide, targeting deals in the €1-5bn value range. The London-based private equity house would not invest more than 25% of the fund outside of Europe and North America.

It is believed the GP will charge management fees of 1.5% on total commitments up to €9bn and 1% on commitments above that limit. Hurdle is said to be set at 8% and carry at 25%, with the fund aiming for a minimum 20% IRR.

Apax declined to comment for the time being.

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• Apax Partners