Established by venture capital pioneers in Europe and the US, Apax Partners works to take private equity investing to great heights. The firm manages several funds that invest in large companies on behalf of investors, including pension funds, university endowments, insurance companies, financial institutions, and high-net-worth individuals. Targeting companies valued between €1 billion and €5 billion (between around $1.5 billion and $7.5 billion), Apax Partners usually takes long-term stakes in established firms in the technology, telecommunications, retail, media, health care, business services, and financial services sectors. The partnership has approximately $40 billion of assets under management.