12 yrs
Credit investing experience
4
Target sectors
$ 1 bn +
deployed
As at 31 December 2023
The Apax Credit strategy was born out of the firm’s experience and strong track record advising the London listed Apax Global Alpha (AGA) on its credit investments. Since 2021, and in addition to AGA, Apax Credit is also advising dedicated private credit funds.
The Apax Credit platform is a natural extension of, and synergistic with, Apax’s private equity strategies. Like the Apax Private Equity Funds, the Apax Credit Funds focus on investments in four core sectors: Tech, Services, Healthcare and Internet/Consumer, and within each they identify attractive sub-sectors where they can offer differentiated propositions to companies, their management teams, and wider stakeholders.
The Apax Credit Funds have a nimble investment approach vs traditional direct lending, creating enhanced returns and allowing for more flexibility. The Apax Credit funds invest across the capital structure with a particular focus on second lien loans, PIK and Preferred Equity instruments, as well as debt plus warrant and convertible instruments in both private and public companies.
The Apax Credit team works alongside management teams, private equity sponsors, and founders to tailor the credit offering to maximise value.
Apax Credit shares insights with Apax’s other strategies to drive differentiated deal sourcing and due diligence perspectives. The investment process involves a focus on sourcing through multiple channels, and high touch diligence upfront to underpin a long-term mindset once the Funds have invested.
