Apax Global Alpha (LSE:APAX) said it invested €21.5 million on a look-through basis as part of the purchase by Apax funds of consumer trend forecasting firm WGSN from Ascential PLC.
Yesterday, the Apax XI Fund, in which closed-ended investment company is a limited partner, closed the acquisition of WGSN yesterday.
Apax said WGSN's partnership with the Apax Funds will focus on "enhancing and expanding its product design and consumer insight products across a wide range of consumer-facing industries".
The private equity group's experience with businesses in the information and data space includes prior investments in sports-data specialist Genius Sports and workforce screening solutions provider Accurate Background.
Apax Global Alpha (LSE:APAX) said its investment in WGSN is calculated based on the look-through position of Apax XI's overall investment in WGSN and is translated based on the latest exchange rates available where applicable.
It made a commitment of circa $700 million to Apax XI in 2022.