PRINT THIS PAGE Four private equity firms make shortlist in £1bn Travelex auction19/01/2005. Source: AltAssets. 
 Four private equity firms have made it on to the shortlist for the £1bn foreign exchange group Travelex, according to the Financial Times. European groups Apax Partners, BC Partners, Permira and US private equity giant KKR have been taken to the next round and the auction is expected to close at the end of February.
Travelex is at present 63 per cent owned by Lloyd Dorfman and 31 per cent by European private equity firm 3i. The firm was founded in 1976 and operates more than 670 retail foreign exchange branches around the world.
Apax, BC Partners and KKR are all in the process of raising new funds for investing in Europe or on the brink of launching new vehicles. Apax had a first close on its new buy-out fund on around €3bn at the end of last year. Permira closed its €5.1bn fund in the middle of 2003.
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