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Apax Partners launches first mainland unit

Published: 24 Apr 2009 01:20:39 PST

Apr. 24, 2009 (China Knowledge) - Apax Partners, the biggest private equity (PE) company in Europe, on Thursday opened its first mainland Chinese unit in Shanghai, the Shanghai Daily reported.

The London-based company, which manages about US$40 billion, plans an investment of US$10 billion in the coming two to three years, a large part of which is expected to go to China, according to the newspaper.

Richard Zhang, head of Apax China, said the company will commit to developing a multi-level capital market to help Shanghai become an international financial center, adding that it will also aim to help Chinese firms with great potential grow into global leaders.

One of the largest PE firms in the world, Apax Partners sees great potential in the Chinese market as it believes that the nation will recover quickly from the economic recession, said Martin Halusa, Worldwide CEO of the company.

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