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Saturday, November 21, 
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Apax set to sell 10% stake that values firm at $10B

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Apax Partners is reportedly close to selling a 10% in its general partnership to an Asian investor in a deal that would value the firm at around $10 billion as it seeks to expand aggressively in Asia.

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Candidates to buy into the private equity firm have boiled down to three bidders: GIC, the sovereign wealth fund of Singapore; the Australian government's Future Fund; and Japanese financial services group Takefuji, according to Dow Jones Private Equity News.

A 10% stake in Apax is expected to fetch about $1 billion according to the report. The move would put Apax in the company of a rare few of top-tier buyout shops to sell a piece of the firm. Last September the Carlyle Group sold a 7.5% stake in itself to the Abu Dhabi government-owned Mubadala Development Co. for $1.35 billion, valuing the Washington-based firm at $20 billion, and before that the Abu Dhabi government and CalPERS each invested in Apollo Investments LP. Just before its IPO last year, the Blackstone Group LP sold 9.9% of its partnership to a Chinese sovereign wealth fund for $3 billion. - George White

See DJ story on Apax
See TheDeal.com story on Carlyle sale
See TheDeal.com story on Blackstone sale






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