Apax Partners Raises $750M for “First Generation” Credit Fund

Apax Partners has raised approximately $750 million for the first generation of its dedicated credit funds strategy.

The firm has invested in credit for more than a decade through its non-dedicated funds – advising on about 90 investments since 2013. Apax said total credit capital advised by the firm stands at about $1.5 billion.

Apax Credit focuses on the firm’s four core areas of tech, services, healthcare and internet/consumer, and makes use of the firm’s extensive contacts and experience on the private equity side.

“We see credit as an important extra arrow in our quiver. This strategy allows us to diversify the way in which we can support companies identified through our private equity sub-sector diligence, while also providing our investors with another way to access compelling returns,” said Mitch Truwit, co-CEO, Apax.

The announcement follows an active year for the Apax Credit Funds. Over the last 12 months, the funds have deployed capital in 19 investments.