About This Fund
Apax Funds is the flagship global private equity investment program of Apax Partners, one of the world's largest and most established private equity firms, founded in 1969 and headquartered in London with offices across North America, Europe, Asia Pacific, and Israel. The Apax Funds program represents Apax Partners' core large-cap and mega-cap leveraged buyout strategy, through which the firm has raised successive global buyout fund vehicles—from Apax I through Apax XI—since the 1980s, making it one of the most tenured buyout franchise programs in private equity history. Apax Partners manages approximately USD 75–80 billion in cumulative committed capital across its funds as of 2024.
The Apax Funds strategy focuses on global buyout investments in three primary sectors: Technology (including software, IT services, and semiconductors), Services (including business process outsourcing, healthcare services, and financial services), and Internet/Consumer (including e-commerce, digital media, and consumer brands). Target enterprise values for portfolio companies range from USD 100 million to USD 5 billion, with flexibility for larger transactions. Apax Partners applies deep sector expertise and a thematic investing approach, partnering with management teams to drive transformational operational and strategic improvements in portfolio companies across North America, Europe, and Asia Pacific. The firm is known for its concentrated, high-conviction investment approach and operational engagement.
The most recent fund in the Apax Funds program, Apax XI, closed at over USD 12 billion in total capital commitments in March 2024, succeeding Apax X (USD 11.8 billion final close, January 2021) and Apax IX (USD 9.0 billion close, 2019). These vehicles have invested in companies such as Idealista, Unilabs, Mynd, EVERI, Wehkamp, and Dun & Bradstreet, across their flagship sectors. In parallel, Apax manages complementary strategies including Apax Digital Growth (minority technology-focused investments), Apax Credit (private debt), Apax Global Impact, and Apax Mid-Market Israel, forming a broad multi-product alternative asset platform.