Apax Planning to Raise $14.5 Billion

Buyout shop Apax Partners is planning to raise 11 billion euros ($14.5 billion) for its next buyout fund, Reuters reported, citing an article in the Financial Times. The paper reported that Apax had invested more than 60% of its 11.2 billion euros fund, raised in 2007. The firm is currently working to close an $8.5 billion acquisition of Danish cleaning company ISS. When that deal closes, the current fund will be 75% committed, Reuters said.

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