CIC at the Apax?
The China Investment Corporation (CIC) has followed up on its earlier and sometimes ill-starred moves into leading private equity players like the Blackstone Group with an innovatively-structured two-handed investment into London-headquartered Apax Partners.
Under the terms of the deal, CIC will gain rights to take over up to €800 million ($1.2 billion) of undrawn commitments to Apax’s 2007 €11.2 billion ($16.6 billion) Apax Europe VII fund. CIC will...
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