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 ApaxSee TheDeal.com story on Carlyle saleSee TheDeal.com story on Blackstone sale
