Apax Partners issues inaugural Annual Report
3rd June 2008Apax Apax Partners, a leading global private equity firm, today issued its first annual report, in accordance with the reporting guidelines detailed by Sir David
Apax Partners, a leading global private equity firm, today issued its first annual report, in accordance with the reporting guidelines detailed by Sir David Walker.
London, 03 June 2008 - Apax Partners ("Apax"), a leading global private equity firm, today issued its first annual report, in accordance with the reporting guidelines detailed by Sir David Walker. The Guidelines were initiated by the British Private Equity & Venture Capital Association following the intense media and political interest in private equity in 2007.
Key information made public for the first time today includes a
breakdown of how Apax Funds create value, net Apax Funds' returns,
a breakdown of Apax Funds' investors, turnover by company, and
average leverage and debt to equity ratio for the Apax Funds
portfolio, as well as information on Apax Partners' operational
Apax intends to further increase its transparency and accountability by extending the new reporting standards outlined in the Walker report beyond those companies required to comply.
Martin Halusa, Chief Executive of Apax Partners, said: "The release of our annual report today demonstrates our support for Sir David and our endorsement of his recommendations. We are keen to increase the understanding of Apax Partners, and of the private equity industry in general, and to reiterate our commitment to increased disclosure. I believe our inaugural annual report helps communicate our very positive story, not only the excellent returns we have generated for our investors, but also the strength of our governance model and our record at growing strong and sustainable businesses."
The publication of the annual report follows the release on 12th May by the firm's portfolio company, Travelex, of its first annual report. Apax Funds' remaining seven large UK portfolio companies are due to publish their annual reports over the coming months.
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NOTES TO EDITORS
About Apax Partners
Apax Partners is one of the world's leading private equity investment groups. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over $40 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services.
For further information, please contact:
Tel: +44 (0)20 7872 6401