UK private equity firm Apax Partners is preparing to launch a $500m fund focused on Israel.
The fund will focus on the technology, telecom, healthcare and consumer sectors, said Apax partner Nico Hansen, according to Reuters.
Apax intends to raise the fund from local LPs, said Hansen, who also said that the firm’s global fund will continue to target deals of over $200m.
Last December it was reported that Apax planned to raise up to $300m for an Israel-focused buyout fund to target mid-market deals.
It was said that Zehavit Cohen a managing partner and the office head of Apax Partners Israel in Tel Aviv would lead the fund.
Cohen has both led and participated in a number of key deals including Bezeq, Tnuva, Psagot and Paradigm. She serves as a board member to a number of Apax portfolio companies and previously chaired both the Tnuva and Psagot boards of directors.
In the meantime, Tnuva is reportedly preparing for an IPO on Tel Aviv’s stock exchange.
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