Our history
The development of Apax Partners
The history of Apax Partners is interwoven with the development
of the private equity asset class in Europe and the US. Throughout
its 30 year history, the firm has successfully raised and advised
30 funds which have invested across all investment stages, and
through several economic cycles.
The firm was born as a venture capital business and in its early
years, during the 1980s and early 1990s, pioneered venture
investing in Europe and in the US. This is when the firm started to
specialise in specific sectors and to focus on driving growth in
portfolio companies. This is also the period when country funds
were raised (UK, Germany, US, Israel).
From 1993, Apax started to invest in buy-outs and raised
'balanced funds' with a growing portion of buy-outs over venture
capital. At the same time, country teams were being merged and
regional rather than domestic funds were raised. By 2001, when Apax
Europe V was raised, 78% of the capital raised for that fund was
invested in buy-outs. Apax no longer invests in venture capital but
has retained a very strong focus on sector expertise, growth, and
the operational rather than financial backgrounds of its investment
professionals.
1980s
1981
Excelsior Fund
The US firm raises its first fund
1981
Venture Capital Fund
The UK firm raises its first fund
1989
Spain
Madrid office opens
1990s
1990
Germany
Munich office opens
1994
Israel
Tel Aviv office opens
1999
European fund raised
The firm raises its first pan-European fund, having integrated
the management companies of its European and Israeli offices
2000s
2001
Apax Europe V
The largest European private equity fund at the time
2002
Apax Partners LLP
European and US operating companies merge to become Apax
Partners LLP
2004
Succession
Martin Halusa elected CEO to succeed founder Sir Ronald
Cohen
2005
China
Hong Kong office opens
2006
India
India office opens
2007
Apax Europe VII
The largest ever European private equity fund
2008
China
Shanghai office opens
2009
Spain
Barcelona office opens