Apax first close pulls in €4.3bn

PRIVATE equity house Apax Partners has joined the rush of successful fundraisings by pulling in €4.3bn (£3.6bn) in 10 months.

The first close on Apax’s eighth fund is the largest since the collapse of Lehman Brothers in September 2008. London-based Apax, which declined to comment, hopes to ultimately raise €9bn, about a fifth below the total of its seventh fund.

Last week Cinven hit a €3bn first close on its latest fund. BC Partners raised €6.5bn in total over 18 months.