Overview
For purposes of this brochure, the “Adviser” means Apax Partners US, LLC, a Delaware limited
liability company, together (where the context permits) with certain of its affiliates that provide
investment advisory services to and/or receive advisory fees from Apax US VII, L.P. (the “Fund”).
The Adviser is wholly owned by Apax Partners, Inc. The Adviser has been in business since 2005.
The Adviser provides investment advisory services to investment vehicles that are exempt from
registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose
securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”).
For the avoidance of doubt, the Fund does not include any pooled investment vehicles advised by
Apax Partners LLP (“LLP Funds”). Apax Partners LLP (“LLP”) is an affiliate of the Adviser
with a principal office and place of business outside the United States. The Adviser also provides
non-discretionary, sub-advisory services (the “Sub-Advisory Services”) to LLP pursuant to an
umbrella sub-advisory agreement with certain of its affiliates (the “Sub-Advisory Agreement”).
LLP reports to the SEC as an exempt reporting adviser in connection with discretionary investment
advisory services that LLP provides to its private fund clients. Affiliates of the Adviser that may
provide investment advisory services to and/or receive advisory fees from the Fund may or may
not be under common control with the Adviser, but share a substantial number of personnel and/or
equity owners with the Adviser. These affiliates have been formed for tax, regulatory or other
purposes in connection with the organization of the Fund or may serve as general partners of the
Fund.
The Fund made primarily long-term private equity and equity-related investments, as well as
investments in debt instruments. In accordance with the Fund’s respective investment objectives,
investments were generally made in companies doing business in four core sectors:
Internet/Consumer, Tech & Telecom, Healthcare or Services sectors. The Adviser’s investment
advisory
services to the Fund and its Sub-Advisory Services to LLP consist of investigating,
identifying, and evaluating investment opportunities and managing and monitoring the
performance of such opportunities when and if they become Fund investments. The Adviser’s
services to the Fund also include structuring, negotiating, and making investments on behalf of the
Fund and making determinations in respect of the disposition of any Fund investments. Typically,
the Adviser will serve as the investment adviser or general partner to the Fund in order to provide
any such investment advisory services. Because the Fund’s investment period has expired, the
Adviser’s services to the Fund currently consists primarily of managing and monitoring the
performance of existing investments and making determinations in respect of the disposition of
such investments.
The Adviser provides investment advisory services to the Fund in accordance with the limited
partnership agreement (or analogous organizational document) of the Fund or separate investment
and advisory agreements (each, an “Advisory Agreement”).
Investment advice is provided directly to the Fund or to LLP, subject to the discretion and control
of the applicable general partner, and not individually to the investors in the Fund or to private
fund clients of LLP, as applicable. Services are provided to the Fund or to LLP in accordance
with, as applicable, the Advisory Agreements with the Fund, the organizational documents of the
Fund, and/or the Sub-Advisory Agreement with LLP. Investment restrictions for the Fund, if any,
are generally established in the organizational or offering documents of the Fund. The scope of
the Adviser’s Sub-Advisory Services in respect of LLP is set forth in the Sub-Advisory Agreement.
As of March 31, 2023, the Adviser manages a total of $86,164,085 of client assets on a
discretionary basis and $0 of client assets on a non-discretionary basis. These amounts reflect
regulatory assets under management as calculated in Part 1A of the Adviser’s Form ADV.