CPPIB buys SL Capital's stake in Apax Europe VII

Canada Pension Plan Investment Board (CPPIB) has acquired SL Capital’s stake in Apax Europe VII.

Apax Europe VII was launched in 2007 and closed on €11.2bn in March 2008.

The vehicle focuses on large-cap buyouts across the healthcare, technology, telecommunications, business services and consumer sectors.

When the vehicle was launched, Apax stated it would seek to invest in 20-30 companies with enterprise values of €1-5bn.

According to Apax’s website, Canadian institutional investors account for 5% of its LP base.

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