Bloomberg.com: Apax no longer making VC investments

" Apax Partners Worldwide LLP Chief Executive Officer Martin Halusa plans to stop investing in startup companies to focus solely on leveraged buyouts after raising a record 10 billion-euro ($13 billion) takeover fund.
``Our next fund will be 100 percent buyouts,'' Halusa said last week after giving a presentation to the Washington State Investment Board in Olympia. ``Our venture results have been very volatile, and our focus is on the more stable end of the business.''
Halusa, who succeeded founder Ronald Cohen three years ago, is phasing out the mix of buyouts and venture-capital investments that Cohen and partner Alan Patricof developed in the 1990s. Halusa shut Apax's Silicon Valley office in California and resigned from the National Venture Capital Association, a U.S. trade group, to devote more time to LBOs. Apax aims to complete its latest fundraising in April. "