Apax VIII received commitments from public and private pension funds, sovereign wealth funds, insurance companies and high net worth individuals.
The fund is split 51 per cent between euros and 49 per cent US dollars, with 43 per cent coming from North America, 25 per cent from Europe, and the remainder from Asia, the Middle East and Latin America.
A “significant” portion of commitments came from existing long-term investors, it said.
The fundraise increases Apax’s total committed capital to more than $40bn across all funds.
“We are pleased to announce today the final close of Apax VIII and would like to thank our existing and new investors for their support and confidence in the Apax team,” said Martin Halusa, CEO of Apax Partners.
“We believe the strength of commitments received reflects confidence in our ability to add real value and is a clear endorsement of Apax’s global growth investing model. With a track record spanning three decades and several economic cycles, and a well-resourced and experienced team, we believe Apax VIII is well positioned to be successful and we are excited by the opportunities we see ahead.”
A source told AltAssets in March that Apax’s sizeable 110-strong global investment team would drop to 90, while the firm would also let out two-fifths of its London office.
That news followed it shuttering its Milan base before Christmas and deciding to wind down its office in Spain.
Apax previously held a €4.3bn first close for the vehicle in March 2012 after just ten months on the road, heralding the largest first close held by a private equity firm since the financial crisis peaked in 2008.
But commitments subsequently began to dry up for the fund, with one source saying Apax had left it too late returning to the market following the successful close of its €11.2bn Fund VII in 2007.
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