Apax Partners to Cease Health Care Investments, Disband Team

Apax Partners has decided to halt new investments into health care assets as the private equity firm sees fewer opportunities in the industry.

The buyout firm will no longer have a dedicated health care team as a result and reassign almost all of the members to other roles, according to an update to its limited partners seen by Bloomberg News. Andrew Cavanna, one of the firm’s partners overseeing health care investment, has become head of investor relations for Americas, according to Apax’s website.

Apax said the remaining health care portfolio companies will continue to be managed by the broader ...