Apax Ix Usd L.P.
A private equity fund outside venture scope, shown because its manager is on the venture graph.
5 additional principals, 2 events
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
- 3 LP reportspublic disclosures
3 public LP reports name this vehicle; the latest, Minnesota State Board of Investment as of 30 Jun 2026, shows $150M committed and net IRR 16.8%, 1.88x (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 → - -46%reported GAV
Reported gross assets fell from $7.21B to $3.88B 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
- 2016basis: form d first sale
- 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 021-277678, 021-262831, sworn by the adviser or filed under this vehicle
- Form D sold
- $8.1Mas of the filing of Jan 5, 2017, 5 investors
- First sale
- Dec 19, 2016
- Reported GAV
- $3.9Bon the Form ADV filed Jun 29, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 134
- Reported on ADV
- Jun 30, 2017 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
Harvest
Lifecycle
The fund's own reporting through time
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Jun 30, 2017 | Private Equity Fund | $7.8B | 115 | $10.0M | 4% | yes | |
| Jun 29, 2018 | Private Equity Fund | $7.2B | 117 | $10.0M | 4% | yes | |
| Jun 30, 2019 | Private Equity Fund | $8.5B | 117 | $10.0M | 4% | yes | |
| Jun 29, 2020 | Private Equity Fund | $8.8B | 120 | $10.0M | 3% | yes | |
| Apr 27, 2021 | Private Equity Fund | $8.8B | 120 | $10.0M | 3% | yes | |
| Jun 29, 2021 | Private Equity Fund | $14B | 126 | $10.0M | 3% | yes | |
| Jun 29, 2022 | Private Equity Fund | $14B | 126 | $10.0M | 3% | yes | |
| Jun 29, 2023 | Private Equity Fund | $9.3B | 126 | $10.0M | 3% | yes | |
| Jan 18, 2024 | Private Equity Fund | $9.3B | 126 | $10.0M | 3% | yes | |
| Jun 28, 2024 | Private Equity Fund | $7.2B | 126 | $10.0M | 3% | yes | |
| Jun 29, 2026 | Private Equity Fund | $3.9B | 134 | $10.0M | 3% |
Principals and agents
- Nick Kershaw Director
- Apax IX USD GP L.P. Inc. Promoter
- Trina Le Noury Director
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 |
|---|---|---|---|---|---|---|---|---|
| Minnesota State Board of Investment msbi.us | 2016 | $150M | $164M | $242M | $66.2M | 16.8% | 1.9x | Jun 30, 2026 |
| Washington State Investment Board sib.wa.gov | 2017 | $250M | $273M | $400M | $114M | 17.2% | 1.9x | Dec 31, 2025 |
| California State Teachers' Retirement System calstrs.com | 2017 | $300M | $325M | $435M | $185M | 17.8% | 1.9x | Jun 30, 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 |
|---|---|---|---|---|
| California State Teachers' Retirement System | STATE RETIREMENT SYSTEM | $300M committed | reported as of Jun 30, 2025 | Fact Pension disclosure |
| Washington State Investment Board | PUBLIC INSTITUTIONAL POOL | $250M committed | committed May 12, 2017 | Fact Pension disclosure |
| Minnesota State Board of Investment | PUBLIC INSTITUTIONAL POOL | $150M committed | reported as of Jun 30, 2026 | Fact Pension disclosure |
Investments attributed to this vehicle
Timeline
- Jun 30, 2026MSBI reports Apax IX USD L.P.: $150,000,000 committed, vintage 2016, net IRR 16.8%, 1.88xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025WSIB reports Apax IX USD, L.P.: $250,000,000 committed, vintage 2017, net IRR 17.2%, 1.9xLP commitment disclosed Fact Pension disclosure
- Dec 31, 2025WSIB reports Apax IX USD, L.P.: $250,000,000 committed, vintage 2017, net IRR 17.2%, 1.9xLP commitment disclosed Fact Pension disclosure
- Jun 30, 2025CalSTRS reports Apax IX USD L.P.: $300,000,000 committed, vintage 2017, net IRR 17.8%, 1.91xLP commitment disclosed Fact Pension disclosure
- Jun 30, 2025CalSTRS reports Apax IX USD L.P.: $300,000,000 committed, vintage 2017, net IRR 17.8%, 1.91xLP commitment disclosed Fact Pension disclosure
Evidence
Every observation on this vehicle
- Entity type: Limited Partnership Jan 5, 2017 Fact Form D
- Form D fund type: Private Equity Fund Jan 5, 2017 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 5, 2017 Fact Form D
- Amendment: false Jan 5, 2017 Fact Form D
- Revenue range (Form D): Decline to Disclose Jan 5, 2017 Fact Form D
- Incorporated: withinFiveYears Jan 5, 2017 Fact Form D
- Jurisdiction: Guernsey Jan 5, 2017 Fact Form D
- Amount sold (Form D): $8.1M Jan 5, 2017 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 5, 2017 Fact Form D
- First sale: 2016-12-19 Jan 5, 2017 Fact Form D
- Indefinite offering: true Jan 5, 2017 Fact Form D
- Investors (Form D): 5 Jan 5, 2017 Fact Form D
- Minimum investment (Form D): 0 Jan 5, 2017 Fact Form D
- Securities offered: pooled Jan 5, 2017 Fact Form D
- Office address: Jan 5, 2017 Fact Form D
- Year of incorporation: 2016 Jan 5, 2017 Fact Form D
Relationships across DFX
on 3 other DFX graphs · 6 capital paths
Apax Ix Usd L.P. is the same institution as 4 records in Private Equity, Allocators and RIA and Wealth.
DFX found 4 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 Ix Usd L.P. sits on 6 traced paths of capital across the graphs.
DFX traced 6 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
- LP commitment disclosed2026-06-30source on record
- LP commitment disclosed2025-12-31source on record
- LP commitment disclosed2025-12-31source on record
+4 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
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.