British buyout firm under pressure.
FORTUNE -- Apax Partners is planning major cutbacks, as it struggles to reach its €9 billion fund-raising target.
Dow Jones first reported the news this morning, saying that the private equity giant would cut 10% of its investment staff, significantly reduce its London headquarters footprint and close its offices in Italy and Spain.
The investment staff reductions will involve 11 positions, with Fortune learning that it includes six partners. No MORE