Descazeaux made partner at Apax

London-headquartered private equity firm Apax Partners has announced six promotions in its Paris office.

Apax Partners, the global private equity firm, has appointed Hervé Descazeaux as a new partner in its Paris Office.
Descazeaux, who joined the firm in 1998, specialises in leveraged buyouts, privatisations and turnaround transactions in the financial services sector. Before joining the firm he worked on audits and due diligence for PriceWaterhouseCoopers in Paris and the US. He currently serves on the boards of Frans Bonhomme, a distributor of plastic pipes and fittings to the building industry, and Outrememer Telecom.
The firm has also promoted five other investment professionals in its Paris team. Bruno Candelier, Geoffrey Leland, Simon Marc and Cédric Rays have all been appointed as senior principals, while Stanislas Pilot has been made principal.
Apax manages and advises over €12 billion on behalf of institutional investors. It invests in both venture and buyouts in Europe, the US, Israel and Japan, working in the IT, telecommunications, media, retail and consumer, healthcare, and business and financial services sectors.
The firm's most recent transactions include the acquisition of a 50 percent stake in German clothing retailer CBR, which had been bought outright by Cinven in October; and the sale, along with Duke Street Capital, of UK DIY retailer Wickes for £950 million (€1.37 billion, $1.85 billion) to trade buyer Travis Perkins.