Private Equity · Profile from Private Equity Research Companion
Apax Partners
A transatlantic firm with venture-capital roots — founded by two of the pioneers of the industry, Alan Patricof and Sir Ronald Cohen — that evolved into a sector-focused global buyout investor in tech, services, healthcare and internet/consumer.
At a glance
- Founded
- 1969 (Alan Patricof Associates, New York); 1972 (Ronald Cohen's Multi-Media Ventures, London, which became MMG Patricof & Co. in 1977); unified under the Apax name in 1991
- Headquarters
- London, with offices in New York, Munich, Tel Aviv, Mumbai, Shanghai, Hong Kong, São Paulo (and others over time)
- Ownership
- Private partnership
- AUM
- ~$75–80bn raised across funds since inception; current AUM reported ~$70bn+ (2024–25)
- Strategies
- Apax flagship buyout funds; Apax Digital (growth); Apax Mid-Market Israel; Apax Global Alpha (London-listed vehicle, 2015)
- Sectors
- Tech, Services, Healthcare, Internet/Consumer
- Flagship fund (latest)
- Apax XI — reported ~$11bn+ (closed 2024–25)
12 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2006
Tommy Hilfiger
Public-to-Private Turnaround
2007
Auto Trader
Partial Carve-out / Joint Control
2007
Cengage Learning
Corporate Carve-out
2007
Hub International
Public-to-Private
2008
TriZetto
Public-to-Private Healthcare IT
2011
Kinetic Concepts
Public-to-Private
2011
iGATE Patni
Structured Minority (PIPE) Financing
2013
Cole Haan
Corporate Carve-out
2017
Matchesfashion
Majority Growth Buyout
2017
Thoughtworks
Founder Buyout, IPO and Re-Take-Private
2019
Inmarsat
Public-to-Private Consortium Buyout
2020
Idealista
Secondary Buyout