Max Burger-Calderon, the Hong Kong-based chairman of Apax Partners’ Asia operations has retired, the global private equity firm has confirmed.
Burger-Calderon will stay on as a non-executive chairman and “represent the firm’s business in the region”, said an Apax spokesman. The firm is not looking for a replacement, he added.
Burger-Calderon joined Apax in 1987, where he co-founded the firm’s German, Spanish and Swiss offices. In 2005, he spearheaded its push into Asia with the opening of its office in Hong Kong. Apax subsequently opened a Mumbai office in 2006 and a Shanghai office in 2009.
Separately, Michael Prahl, a Hong Kong-based principal focused on the consumer and retail sectors, left the firm in October. Apax currently has a six-strong investment team in the Hong Kong office and continues to recruit globally, according to a spokesman.
The firm's India head, Neeraj Bharadwaj, also resigned last month. Bharadwaj, a managing director who set up Apax’s Mumbai office, ended his 10-year tenure with the firm to join Accel India Ventures. Sandeep Naik and Shashank Singh, both of whom joined the firm in 2004, replaced him as country head.
In February, Apax disclosed that it had sold a stake of “around 10 percent” in its management company to investors including GIC Special Investments of Singapore and The Future Fund of Australia. The proceeds were to be re-invested in a permanent capital vehicle for investment in Apax funds.
Headquartered in London, Apax is ranked 10th in the PEI 50, Private Equity International’s ranking of the 50 largest private equity firms in the world, having raised more than $21.33 billion in the last five years.