Apax Partners News
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קריסת שולץ? המוסדיים סומכים שקרן AMI תמשיך להניב רווחי עתק בלעדי
Despite the recent collapse of the Schulz restaurant company, institutional investors still believe in the ability of the AMI private equity fund, led by Zehavit Cohen, to continue generating significant returns on their investment. The fund, which raised about half a billion dollars from institutional bodies in Israel and around the world in 2015, has invested $361 million to date and distributed dividends and sums from realization of holdings amounting to $372 million, showing accumulated profits of about $1.4 billion. AMI is planning to raise a second fund in the coming months, similar in size to the first one.
InvestmentAcquisition
Apax Israel raising $600 million fund
Apax Israel is set to launch a funding round for its second fund, aiming to recruit at least $600 million. The fund will focus on mid-market Israeli companies valued at $25-100 million in the technology, telecom, retail, and health sectors. Apax Israels first fund had a successful investment in fintech company Global-e, which made a return of more than double the initial fund. The companys holdings in Global-e are now worth over $1 billion. The first fund invested over $360 million in companies and had a portfolio valuation of $1.55 billion as of June.
Investment
Apax talks to sell Psagot pass deadline
Psagot Investment House Ltd. is no longer likely to be sold, and Apax Partners is now considering an IPO on the Tel Aviv Stock Exchange (TASE) for Max Stock, a discount retail chain. Talks for the sale of Psagot to US and European investors led by Israeli businessman Ron Weissberg have ended, and the valuation of Psagot for the deal was estimated to be $350-400 million. Apax, which acquired a controlling stake in Psagot in 2010, is now looking to hold an IPO for Max Stock at a company valuation of NIS 1 billion, triple the value at which it was acquired. The potential buyers for Psagot and the new partners involved in the deal are still unknown. Regulatory approval from the Israel Securities Authority and the Israel Competition Authority will be required for the sale of Psagot.
Public Trading
Apax mulls splitting and selling Psagot
Apax Partners is considering splitting off and selling activities of Psagot Investment House in order to sell its holding in the investment institution. The separation of provident funds from mutual funds and portfolio management is under consideration. Apax wants to enhance the value of the investment house and take advantage of the high valuation given by the capital market. Capital market sources believe that Apax wants to sell the company in parts to reduce the number of potential buyers and add local financial companies to the list. Apax acquired control of Psagot in 2010 at a valuation of NIS 2.7 billion. As of the end of 2019, Psagot manages nearly NIS 200 billion in assets.
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Apax Partners raises $1B tech fund, investing in luxury e-commerce site
Private equity advisory firm Apax Partners LLP has raised a technology-focused fund, called Apax Digital, with $1 billion in capital commitments. The fund has already invested in a $165 million funding round in Moda Operandi Inc., an online luxury retailer that allows consumers to pre-order designer collections worn on the runway. Apax Digital will make minority and buyout investments in high-growth tech and consumer internet businesses globally. The fund, advised by a dedicated team of 14 investment professionals based in New York and London, will target individual equity investments between $30 million and $150 million.
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https://www.bloomberg.com/news/articles/2015-04-09/apax-partners-said-to-ready-ipo-in-drive-for-permanent-funds
Apax Partners, one of Europe’s largest private-equity firms, is preparing for an initial public offering (IPO) to widen investors access to its funds. The firm plans to sell shares in a company it established six years ago when it sold a stake to a group of sovereign wealth funds. The shares of the company, called Permanent Capital Vehicle, which is now the largest investor in Apax funds, will be traded in London.
Public Trading
Apax Israel raises new $250m fund
Apax Israel CEO Zehavit Cohen has completed raising $250 million for the new investment fund, Apax MiddleMarket (AMI) Israel. The fund will focus on medium-sized Israeli companies and plans to make about 10 acquisitions. Most of the investors are foreign institutions, with some local investors and Apax Partners fund and its partners also contributing. This is the first time Apax is establishing a fund for investments in a specific country. Apaxs previous investments in Israel have given investors a return of over 30%. Now that the financing round is complete, the funds portfolio is expected to start filling up.
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Apax Partners raising €4.5b sixth European fund
Apax Europe V has invested in Israeli technology companies and plans to invest $100 million more by year-end. Apax Partners is raising its sixth European fund and will reportedly raise �4.5 billion during the coming year. Apax has invested $30 million in Israeli companies and will invest another $100 million in Israeli start-ups by year-end. Apax Europe Vs largest exit was the acquisition, upgrade, and flotation of UK yellow pages company, Yell Group plc, resulting in a profit of $1 billion. Apax Partners (Israel) confirmed the new European fund.
Investment