The Financial & Business Services ('FABS') sector represents
a substantial portion of the global economy, with approximately 25%
of the market capitalisation of the MSCI Global Index in the
sector. The sector itself encompasses a diverse range of
businesses, from diversified global financial institutions such as
Citigroup and HSBC, to international business services companies
like MMC or Accenture, through to countless regional, national, and
local players.
Worldwide, the FABS team is made up of investment
professionals located across Apax Partners' office network. The
team is led by Michael Phillips (Germany) and Mitch Truwit (US) and
has a broad range of expertise spanning industry, consulting, and
investment banking that enables Apax Partners both to identify
opportunities and to work deeply with portfolio companies across
the sector.
Apax Funds have invested €2.0bn in the sector over the past 15
years.