Apax raises $750 million in commitments for first generation credit funds
25th September 2023Apax Credit funds build on Apax’s 50-year track record to invest in attractive credit opportunities Sector-led investment strategy with flexible mandate to invest a
- Credit funds build on Apax’s 50-year track record to invest in attractive credit opportunities
- Sector-led investment strategy with flexible mandate to invest across the capital structure
- Credit strategy fully integrated into global Apax platform, leveraging Apax’s deep sector knowledge built over decades
- c.40% already invested and committed across the credit funds
Apax Partners LLP (“Apax”) today announces that it has successfully raised c.$750m for the first generation of dedicated Apax Credit Funds.
The strength of the fundraise demonstrates the solid growth and success of Apax’s credit platform. Apax advised funds have invested in credit for over a decade, including advising London listed Apax Global Alpha on its credit investment portfolio. In total, Apax has advised on approximately 90 credit investments since 2013, and total credit capital advised by Apax stands at approximately $1.5bn.
Apax’s credit strategy is fully integrated into the wider Apax platform. The dedicated credit team works hand-in-hand with Apax’s private equity teams to meet the increasing demand for flexible, long-term private credit solutions. With their focus on the four core Apax sectors – Tech, Services, Healthcare and Internet/Consumer – the Apax Credit Funds leverage Apax’s deep sector knowledge built over decades. The Credit strategy is highly synergistic with Apax’s private equity strategies, targeting the types of businesses that are well known to Apax through its private equity sector insights. Apax Credit Funds have a flexible mandate, with the ability to invest across the capital structure. They are geared towards providing the right capital solutions in partnership with companies and management teams.
Mitch Truwit, Co-CEO, Apax, commented: “The Apax Credit strategy is a growing platform with a truly differentiated approach to credit investing, and we are thankful for the support of our limited partners as well as their confidence in our team. We see Credit as an important extra arrow in our quiver. This strategy allows us to diversify the way in which we can support companies identified through our private equity sub-sector diligence, while also providing our investors with another way to access compelling returns.”
This fundraising announcement follows an active year for the Apax Credit Funds. Over the last twelve months, the funds have deployed capital in 19 investments.
About Apax Credit and Apax
Established 10 years ago, Apax Credit is fully integrated into the wider Apax Platform, fully leveraging Apax’ 50 years of experience. Like the Apax Private Equity Funds, the Apax Credit Fund focuses 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 strategy benefits from a flexible mandate, allowing the team to focus on the credit solutions that offer the best fit in each case. For further information, please visit: https://www.apax.com/create/strategies/apax-credit/
Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.