Apax Digital II L.P.
A private equity fund outside venture scope, shown because its manager is on the venture graph.
3 additional principals, 1 additional placement agent
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 1 LP reportpublic disclosures
1 public LP report name this vehicle; the latest, Pennsylvania Public School Employees' Retirement System as of 31 Dec 2025, shows $135M committed and net IRR 8.3%, 1.13x (the LP's own figures).
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners → - +164%reported GAV
Reported gross assets rose from $454M to $1.2B between the Form ADV filings of 28 Jun 2024 and 29 Jun 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
Amounts, each with its basis
- Vintage
- 2022basis: adv first reported
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- indefinitewhat may be sold, not what was raised; file 021-400690, 021-287658, sworn by the adviser or filed under this vehicle
- Form D sold
- $0as of the filing of May 26, 2021
- First sale
- unknown
- Reported GAV
- $1.2Bon the Form ADV filed Jun 29, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 106
- Reported on ADV
- Jun 29, 2022 to Jun 29, 2026
- Structure
- master
Fundraising evidence
What counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.Lifecycle
Active deployment
Lifecycle
The fund's own reporting through time
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Jun 29, 2022 | Private Equity Fund | $1.8B | 107 | $50.0M | 8% | yes | |
| Jun 29, 2023 | Private Equity Fund | $1.8B | 106 | $50.0M | 9% | yes | |
| Jan 18, 2024 | Private Equity Fund | $1.8B | 106 | $50.0M | 9% | yes | |
| Jun 28, 2024 | Private Equity Fund | $454M | 106 | $5.0M | 12% | yes | |
| Jun 29, 2026 | Private Equity Fund | $1.2B | 106 | $5.0M | 7% |
Principals and agents
- Apax Digital II GP L.P. Inc. Promoter
- David Payne Staples Director
- Paul Jonathan Meader Director
- HMC Itajuba placement agent
Service providers
- AuditorKPMG · ST. PETER PORT, GuernseyForm ADV filed Jun 29, 2026 reports.adviserinfo.sec.gov
- AdministratorAPAX PARTNERS GUERNSEY LTD. · ST. PETER PORT, GuernseyForm ADV filed Jun 29, 2026 reports.adviserinfo.sec.gov
- CustodianAztec · ST PETER PORT, GuernseyForm ADV filed Jun 29, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performance
Whose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| Pennsylvania Public School Employees' Retirement System pa.gov | 2021 | $135M | $70.2M | Not disclosed | $79.2M | 8.3% | 1.1x | Dec 31, 2025 |
Known LPs and allocators
What these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Pennsylvania Public School Employees' Retirement System | STATE RETIREMENT SYSTEM | $135M committed | reported as of Dec 31, 2025 | Fact Pension disclosure |
Investments attributed to this vehicle
Timeline
- Dec 31, 2025PSERS reports Apax Digital II, L.P.: $135,000,000 committed, vintage 2021, net IRR 8.3%, 1.13xLP commitment disclosed Fact Pension disclosure
- Jun 29, 2022Apax Digital II L.P. first reported on Form ADV by Apax Partners LLP (Private Equity Fund), GAV $1,842,787,922Fund first reported on Form ADV Fact Form ADV
- May 26, 2021Apax Digital II L.P. filed Form D: no sales yet (indefinite offering), Private Equity FundForm D filed Fact Form D
Evidence
Every observation on this vehicle
- Entity type: Limited Partnership May 26, 2021 Fact Form D
- Form D fund type: Private Equity Fund May 26, 2021 Fact Form D
- Form D industry group: Pooled Investment Fund May 26, 2021 Fact Form D
- Amendment: false May 26, 2021 Fact Form D
- Revenue range (Form D): Decline to Disclose May 26, 2021 Fact Form D
- Incorporated: withinFiveYears May 26, 2021 Fact Form D
- Jurisdiction: Guernsey May 26, 2021 Fact Form D
- Lp reported fund: 135,000,000 Sep 13, 2026 Fact Pension disclosure
- Amount sold (Form D): $0 May 26, 2021 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 May 26, 2021 Fact Form D
- Indefinite offering: true May 26, 2021 Fact Form D
- Investors (Form D): 0 May 26, 2021 Fact Form D
- Minimum investment (Form D): 0 May 26, 2021 Fact Form D
- Securities offered: pooled May 26, 2021 Fact Form D
- Office address: May 26, 2021 Fact Form D
- Year of incorporation: 2021 May 26, 2021 Fact Form D
Relationships across DFX
on 3 other DFX graphs · 2 capital paths
Apax Digital II L.P. is the same institution as 3 records in Allocators, Private Equity and RIA and Wealth.
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Apax Digital II L.P. sits on 2 traced paths of capital across the graphs.
DFX traced 2 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Merged in2026-09-15
- LP commitment disclosed2025-12-31source on record
- Form D filed2021-05-26source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.