Apax Partners

About: Apax Partners is one of the world’s leading private equity investment groups and based in London and New York. It operates across the United States, Europe and Asia and has more than 30 years of investing experience. Funds under the advice of Apax Partners total $40 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. Significant recent investments by funds advised by the Apax Partners Healthcare and Tech & Telecom teams include: General Healthcare Group, Capio, Apollo Hospitals, Qualitest Pharmaceuticals, Spectrum Laboratories, Weather Investments, SMART Technologies and TDC.

www.apax.com

Key Personnel:
Martin Halusa, CEO

Portfolio:
Apax doesn’t list its green investments as a sector and I think most of them are under its Tech & Telecom sector. I think their green investments are:
CSG Solar, InnovaLight. Note: I haven’t completed the listing as its portfolio is large, will update once I’m done.

News: January 2006: Apax Partners made a 27-fold return on its 22-month investment in the German solar power cell company Q-Cells, after selling all but 0.5% of its stake in the business at €68 per share. Apax’s return, €280m after costs and net of its original investment is the largest single capital gain made by a European VC firm since the dot.com boom. It beats the $300m return Index Ventures made on the $4.1bn sale of Skype to eBay in September 2005. Apax invested €11.5m in Q-Cells in a third round of venture funding in March 2004; Good Energies also invested in Q-Cells in the same funding. Good Energies which first invested in Q-Cells in 2002 still holds 47.6% as of April 2009. Christian Reitberger, who led Apax’s investment in Q-Cells back in 2004, joined Wellington Partners Venture Capital in 2008.

Apax and Good Energies also co-invested €24m in CSG Solar in January 2005.

Q-Cells which acquired a stake in Renewable Energy Corporation (REC) in February 2007 has sold its entire 17.2% stake in REC in May 2009. It was Good Energies who sold its 17.9% stake in REC to Q-Cells and another 12.5% stake in REC to Orkla in February 2007. Good Energies who invested in REC back in 2001 does not have any stake in REC now. Good Energies chairman and founder is Marcel Brenninkmeijer, who invested early in REC and Q-Cells.

apax

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