LONDON: Apax Global Alpha Limited (“AGA”), the closed-ended investment company providing access to the Apax Private Equity Funds, today announces that it expects to invest approximately €35m in CohnReznick LLP on a look-through basis.
On 26 February 2025, the Apax XI Fund (“Apax XI”) announced it has agreed to invest in CohnReznick, one of the leading advisory, assurance, and tax firms in the United States. The transaction is expected to close in March/April 2025.
Headquartered in New York, CohnReznick is one of the largest audit, tax and advisory partnerships in the US operating across 29 offices nationwide. Sitting within the mid-market, CohnReznick serves companies in a range of industries, with a particular focus on real estate, financial services and financial sponsors, private client services, manufacturing, renewable energy, and government advisory.
In partnership with the Apax Funds, CohnReznick intends to invest further in its talent and business to continue to drive growth. The Apax Funds will apply its operational expertise and deep experience in professional services to support CohnReznick in advancing its value creation plan, which includes expanding service lines, developing technology-centric client solutions, entering new markets, developing best-in-class talent, and advancing its existing tech platform to drive further innovation and efficiency. The Apax Funds will also support CohnReznick in pursuing its targeted acquisitions strategy to further grow its client offering.
The transaction draws on the Apax Funds’ experience in the services subsector of outsourced sales and marketing models and investments such as S&W, PIB Group, and the exited AssuredPartners.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a portfolio of private equity funds advised by Apax as well as a smaller portfolio of debt instruments. In June 2022, AGA made a commitment of c.$700m to Apax XI.