APAX XI
Our new Private Equity opportunity.
We offer a preferential access to Apax XI through the investment in PrivAccess XV – Global Buyout XI, a feeder fund dedicated to BNP Paribas Wealth Management clients.
Let’s introduce Apax XI
Apax targets a fund size of $13 billion for Apax XI and will invest primarily in North America and Europe, with a maximum allocation of 25% in other geographies. The portfolio will comprise about 20 investments within Apax’s 4 sectors of expertise: Technology, Healthcare, Services, and Internet/Consumer.
Apax’s sectors of expertise
Tech
Healthcare
Services
Internet / Customer
Apax Partners: a top-tier Private Equity firm with a proven track record
Apax Partners are one of the most recognized and established Private Equity firms in the world. Over half a century, Apax has raised more than $60 billion and invested throughout several economic cycles.
Apax has a strong track record, drawing on a selective investment policy, a broad network of sector specialists and ambitious value creation plans based on Apax's expertise in operational efficiency and digital acceleration. Indeed, the Private Equity investments sold by Apax in its 4 sectors of expertise has generated a gross realized return of 2.7x gross MOIC and a 28% gross IRR since 2001.
28%
gross realized IRR*
since 2001
2.7x
gross realized MOIC*
since 2001
*Past performance is not a reliable indicator of future performances. No guarantee is given on the success, profitability, return or benefit of this investment
Private Equity remains a great opportunity
Diversification
Private Equity provides diversification in a portfolio, aiming for high returns to compensate for illiquidity and a long-term maturity. In addition it continues to outperform stock markets over the long term during different economic cycles.
Good Momentum
Periods of economic downturn are usually good entry points for Private Equity, particularly funds offering growth and transformation strategies based on operational improvement and digitalisation.
Attractive returns*
In this environment of volatility, inflation and rising interest rates, which accentuate performance disparities, it is essential to remain selective and invest with a top-performing and very experienced Private Equity firm.
*Past performance is not a reliable indicator of future performances. No guarantee is given on the success, profitability, return or benefit of this investment
Your investment opportunity: Apax XI
*Past performance is not a reliable indicator of future performances. No guarantee is given on the success, profitability, return or benefit of this investment
Introducing BNP Paribas Wealth Management Private Equity Senior Management
Claire Roborel de Climens
Global Head of Private and Alternative Investments · BNP Paribas Wealth Management
Since joining BNP Paribas Wealth Management in 2004, Claire Roborel de Climens has set up the Private Equity Group. In 2010 she was also nominated Head of Real Estate. In 2015, she became Head of the Private and Alternative Investments department, adding the Hedge Funds, Strategic-A (asset allocation service), Philanthropy Advisory and AgriFrance activities to her scope of responsibility. Claire is a member of various advisory boards of Global and European Private Equity and Real Estate funds. She sits on the board of Global General Partner, the AIFM manager of PERE feeder funds, and on the Supervisory Board of BNP Paribas Real Estate investment Management France (REIM). Prior to joining BNP Paribas Wealth Management, Claire worked 10 years for PAI Partners, a leading pan-European Private Equity firm, as a manager in the Finance Department, Investor Relations activities and then as an investor in the General Industrials sector where she was involved in many LBO transactions. She started her career as an auditor at Ernst & Young where she worked for 6 years for large industrial groups and Private Equity funds. Claire Roborel de Climens is a graduate of the EMLyon business school.
To learn more about this opportunity
Contact your Relationship Manager
APAX DISCLAIMER:
Any information in this document relating to Apax XI is qualified in its entirety by reference to the amended and restated limited partnership agreement governing Apax XI (as may be further amended and restated from time to time, the “Master Fund LPA”) and the confidential private placement memorandum of Apax XI (the “Master Fund PPM”). With respect to any information in this document relating to Apax XI, the general partner of Apax XI (the “Master Fund’s GP”), Apax and their respective affiliates or any of their respective investment activities or investment records, prospective investors should review carefully the terms of Apax XI’s documents including, without limitation, the Master Fund PPM. With respect to any information in this document relating to Apax XI, to the extent of any inconsistency between this document and the Master Fund PPM, the Master Fund PPM shall be deemed to control. All information contained herein concerning Apax XI may be revised or supplemented from time to time.
Apax XI, the Master Fund’s GP, Apax and their respective affiliates or any of their respective general partners, investment advisors, officers, directors, employees, partners, members, shareholders or controlling persons (together, the “Master Fund Group”) have not endorsed or approved, and make no recommendations with respect to, any ordinary share in Global Buyout XI offered hereby and will have no responsibility for the marketing, organization, operation or management of Global Buyout XI. The ordinary shares offered hereby are ordinary shares in Global Buyout XI, and does not constitute an offering of any interests in Apax XI, and purchasers of ordinary shares in Global Buyout XI offered hereby will not be limited partners in Apax XI, will have no direct interest in Apax XI, will have no direct voting rights in Apax XI, and will not be parties to the Master Fund LPA and, accordingly, will not have any direct rights thereunder and may not bring a direct action for any breach thereof against any member of the Master Fund Group. None of the members of the Master Fund Group have made any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness or completeness of any of the information contained herein other than information relating to Apax XI which the Master Fund Group has approved in writing or otherwise supplied for inclusion in this document, and they expressly disclaim any responsibility or liability therefor. No member of the Master Fund Group has responsibility to update any of the information provided in this document. Recipients of this document should note that none of BNP Paribas, Global Buyout XI or any of their affiliates has the power to legally bind or commit any member of the Master Fund Group or has any discretion over the management of Apax XI.
BNP PARIBAS WM DISCLAIMER:
This document is communicated by the Wealth Management métier of BNP PARIBAS SA, a French limited liability company with share capital of EUR 2,468,663,292 whose registered office is located at 16 boulevard des Italiens 75002 Paris, France, registered with the Paris Trade and Companies Registry under number 662 042 449 supervised and authorised as a Bank by the European Central Bank ("ECB") and in France by the French “Autorité de Contrôle Prudentiel et de Résolution” (“ACPR”) and regulated by the French “Autorité des Marchés Financiers” (“AMF”) (hereinafter BNP Paribas).
Apax XI EUR SCSp (hereinafter Master Fund) is a Luxembourg special limited partnership (« Société en Commandite Spéciale »). Its General Partner is Apax XI GP SARL. (hereinafter Master Fund’s GP) is a Luxembourg private limited liability company (“Société à Responsabilité Limitée”). The Master Fund will be managed by Sanne LIS S.A., a Luxembourg public limited liability company appointed by the Master Fund’s GP and authorized by the Luxembourg CSSF as an Alternative Investment Manager (hereinafter Master Fund’s AIFM).
PrivAccess XV – Global Buyout XI is a compartment of PrivAccess XV SICAV RAIF SCA (hereinafter Feeder Fund), an investment company with variable capital structured in the form of a Multi-Compartment Reserved Alternative Investment Fund registered as a corporate partnership limited by shares and notified with the Luxembourg CSSF. It is managed by its General Partner: PrivAccess General Partner S.à.r.l. and Global General Partner SA which is an Alternative Investment Fund Manager (AIFM) authorized by the Luxembourg CSSF, appointed to manage the Feeder Fund.
This material is confidential and intended solely for the use of the person to whom it has been delivered and must not be distributed, published or reproduced, in whole or in part nor may it be quoted or referred to in any document without the prior consent of BNP Paribas. This document is provided solely for the purpose of providing general information and shall not constitute an offer, a solicitation or an investment advice nor shall it form the basis of or be relied upon in connection with any subscription or commitment. In addition, this document and its content shall not in any way be construed as an advertisement, inducement or recommendation of any kind or form whatsoever. For the purposes herein, “BNP Paribas” means BNP Paribas SA and its respective affiliates and related corporations.
Although the information provided herein may have been obtained from published or unpublished sources considered to be reliable, and while all reasonable care has been taken in the preparation of this document, BNP Paribas does not make any representation or warranty, express or implied, as to its accuracy or completeness and does not accept responsibility for any inaccuracy, error or omission nor any liability for the use of or reliance on this document or any part of the information contained herein. Past performance is not a reliable indicator of future performance. BNP Paribas is not giving any warranties, guarantee or representation as to the expected or projected success, profitability, return, performance, result, effect, consequence or benefit (either legal, regulatory, tax, financial accounting or otherwise) of any interest.
Prior to making any commitment, the investor should take advice from his legal, tax and financial advisors. Subscribers should be in a position to fully understand the features of the subscription and be financially able to bear a loss of their investment and be willing to accept such risk. Save as otherwise expressly agreed in writing, BNP Paribas is not acting as financial adviser of, or in any fiduciary capacity to, the subscriber in any subscription.
This document contains only a summary of certain sustainability-related aspects of the Feeder Fund and is not purported to be complete nor does it constitute an offer to invest in the Feeder Fund. It is not intended to be complete and will be qualified in its entirety by reference to the Issuing Document, which should be read in its entirety, in particular as regards the pre-contractual disclosure obligations under the SFDR, including how applicable sustainability risk factors are integrated into the decision-making process and their impact on returns. The descriptions or terms regarding sustainability-related aspects of the Feeder Fund in the Issuing Document shall prevail.
Documents containing additional information concerning the Feeder Fund and in particular the Issuing Document, the annual reports (which are made available to the investors on a regulatory basis after its investment in the Feeder Fund), the Subscription Agreement and the Master Fund documentation are available in English upon request to your relationship manager and to PrivAccess General Partner S.à r.l. (contact details below). If you want more information, especially on the structure of the Feeder Fund and the risks associated with an investment in this Feeder Fund, we advise you to read these documents.
PrivAccess General Partner S.à r.l. - 50, avenue J.F. Kennedy,
L-1855 Luxembourg - Grand-Duchy of Luxembourg –
contact@ggp.bnpparibas.com - 00 352 4242 2000
An investment in the Feeder Fund should be conditioned upon the previous reading and understanding of its Issuing Document and its Subscription Agreement which are available in English only and which describe the rights and obligations of the investors. Therefore, prospective subscribers should not rely on any other information not contained in such Issuing Document and Subscription Agreement.
Under no circumstances will the Feeder Fund, PrivAccess General Partner S.à.r.l., Global General Partner SA, BNP Paribas, the Master Fund, the Master Fund’s GP, or the Master Fund’s AIFM pay or reimburse any current or future taxation in the subscribers’ country of origin, residence, domiciliation or wherever subsequent to the subscription, holding, conversion, sale or liquidation of ordinary shares in the Feeder Fund or in the Master Fund. The subscriber will be responsible for such payment or reimbursement.
No measures have been nor will be taken in any country or territory for the purposes of allowing a public offering of the investment described in this document, or the holding or distribution of any document relating to this investment. These ordinary shares are not recommended by any federal or state securities commission or any other regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this document. BNP Paribas, PrivAccess General Partner S.à.r.l., Global General Partner SA, the Master Fund, the Master Fund’s GP and the Master Fund’s AIFM entities are separate legal entities and none of them is representing or acting as an agent for the other.
This document is not for distribution to US Persons and US Persons are not eligible to apply to become shareholders in the Feeder Fund. The ordinary shares of the Feeder Fund will be offered and sold only outside the United States to persons who are not US Persons, in reliance on Regulation S.
By accepting this documentation, the subscriber agrees to be bound by the foregoing limitations.
BNP Paribas SA (2023). All rights reserved.