Apax Partners Said to Ready IPO in Drive for Permanent Funds

Apax Partners, one of Europe’s largest private-equity firms, is readying an initial public offering that would widen investors’ access to its funds, people with knowledge of the matter said.

The buyout firm plans to sell shares in a company it set up six years ago when it sold a stake to a group of sovereign wealth funds, said the people, who asked not to be identified because the talks are private. Shares of Permanent Capital Vehicle, now the single biggest investor in Apax funds, would be traded in London, the people said.