Apax Partners raises $11bn

The London-based investment firm reached the hard-cap for its latest mega-fund.

Fund name: Apax X
Amount raised: $11 billion
Target size: $10.5 billion
Hard-cap: $11 billion
Final close date: January 2021
Predecessor fund: Apax IX ($9.5 billion)

Apax Partners has held a final close of Apax X at its $11 billion hard-cap and above its $10.5 billion target, according to a press release by the firm. The fund will continue to pursue opportunities across the tech, services, healthcare and consumer sectors.

Apax X received commitments from several institutional investors, including a $250 million commitment from Virginia Retirement System, a $150 million from Minnesota State Board of Investment, a $350 million from Washington State Investment Board and a $250 million commitment from California State Teachers’ Retirement System.

Apax IX, the fund’s predecessor, closed in December 2016 and raised $9.5 billion