Apax to create $500 mln Israel mid-market fund

LONDON, March 19 Wed Mar 19, 2014 8:50am EDT

LONDON, March 19 (Reuters) - British private equity fund Apax Partners said on Wednesday it will create a $500 million mid-market fund to invest in Israeli companies in the technology, telecom, healthcare and consumer sectors.

The new fund will target 10 deals of $25 million to $100 million, Nico Hansen, a partner at Apax, told a private equity conference in London. The money for the fund will come from local investors, he said.

Hansen added that Apax's global fund would continue to target deals of over $200 million (Reporting by Freya Berry; Editing by Tova Cohen)