Why Apax Partners for Private Equity? / Overview of Apax Partners
Overview
Apax Partners is an international private equity firm headquartered in London, England. Like EQT and CVC, Apax is a European private equity firm that has expanded successfully into other geographies.
Apax has an AUM of >$60B and has 7 offices worldwide. Apax primarily invests in tech, services, healthcare, and internet / consumer.
Apax has been raising money for a buyout fund and as of Q1 2022 had been targeting a $13B raise. Apax has several funds and investment strategies, including Global Buyout, Digital Growth, and Credit.
Notably, one of Apax's co-CEOs, Mitch Truwit has meaningful professional experience as an operator. Truwit was the President and CEO of Orbitz Worldwide and COO of priceline.com.
Remember that in order to craft a great answer to the common question "Why this Firm?", it's your responsibility to read articles and speak with employees. If you are interviewing with Apax, you should make sure you know:
1 deal that the investment team you are recruiting with has done
1 person at the firm (ideally someone who would have influence over your recruiting process)
1 business model-specific detail to mention
We explain how to answer qualitative questions and research private equity firms in our Private Equity Course. We also teach how to build LBO models and prepare for case study interviews.
Selected Transaction
Apax Digital invested in ClassPass, a leading fitness and wellness marketplace, in 2020. Apax Digital participated in their $285mm Series E round alongside L Catterton and Temasek. At the time, ClassPass had expanded into 28 countries and had >1,000 employers in their corporate wellness program.
Transaction Description: Apax participated in ClassPass' Series E investment of $285mm.
Transaction Value: $715mm pre-money valuation
Transaction Date: Closed January 2020
Fact Sheet
Company Name: Apax Partners LLP
Description: Apax Partners is a global private equity advisory firm. Apax invests in companies across four global sectors of tech, services, healthcare, and internet / consumer. Apax provides long-term equity financing to build and strengthen world-class companies.
Firm Category: Private Equity / Upper Middle Market
Company Status: Apax Partners is privately held
Founded: 1969
Employees: <500
Assets Under Management: >$60B
Flagship Fund Size: Apax X ($11.8B raised in 2020)
Chief Executive Officer: Mitch Truwit and Andrew Sillitoe
Headquarters: London, England
Resources
Based on the H1B Database, the average base salary for an Associate at Apax Partners is $110k.