Performance watch: Apax Partners

The London firm is seeking $10.5bn for Fund X, according to Minnesota State Board of Investment documents obtained by PEI.

Apax Partners, one of Europe’s oldest private equity managers, is back in market with its 10th flagship private equity fund.

The London-headquartered firm is seeking $10.5 billion for Fund X, according to Minnesota State Board of Investment documents obtained by Private Equity International. Apax collected $9.5 billion for its 2016-vintage predecessor.

Past performance is an integral part of any fundraise and Apax has a track record dating back at least to its 1981-vintage Excelsior Fund, according to PEI data.

The interactive chart below sheds light on the performance of some of Apax’s more recent funds. Performance figures were courtesy of a source familiar with the firm.

Apax declined to comment.