LONDON--Private equity Apax Global Alpha Ltd. said Friday that
it intends to raise the sterling equivalent of 250 million Euros
($278.06 million) and will seek listing of its ordinary shares on
the London Stock Exchange.
The investment vehicle is seeking to raise the funds by way of a
placing, offer for subscription and intermediaries offer to invest
in Apax Private Equity Funds and Derived Investments. It has
conditionally secured sterling equivalent commitments worth EUR135
million from cornerstone investors.
Apax Global said the fundraising will allow it to take advantage
of opportunities in both private equity and derived
investments.
Tim Breedon, a current non executive director of Barclays PLC
(BARC.LN), serves as the chairman of Apax Global.
The company will acquire PCV Lux SCA, a investment vehicle for
employees of private equity Apax Partners LLP, prior to stock
market admission. As at March 31, PCV's investments had an
estimated net asset value of EUR611.1 million.
Shares of Apax Global are expected to start trading on June
15.
Credit Suisse Securities (Europe) Ltd. and Jefferies
International Ltd. are acting as joint global coordinators and
joint book runners. Jefferies is also acting as sponsor to the
company.
Scott Harris U.K. Ltd. is acting as placing agent and
intermediaries offer adviser.
Write to Tapan Panchal at tapan.panchal@wsj.com
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