Buyout Opportunities Returning as Prices Come Down, Apax Says
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Apax Partners is seeing private equity investment opportunities come back as valuations decline, according to Co-Chief Executive Officer Andrew Sillitoe.
The buyout firm’s latest fund has made five investments in recent months at an average 25% discount to peer valuations, Sillitoe said. Businesses are getting repriced to reflect the new normal, and public company boards are becoming more realistic on the premium a buyer needs to offer, he said.