Apax Partners is exploring the possible sale of an equity stake to a sovereign fund in Asia or the Middle East, amid signs that European private equity firms are chasing partnerships similar to those recently signed by US rivals Blackstone and Carlyle Group.

The senior management of Apax – including Martin Halusa, chief executive – visited China this week to discuss a range of business issues. These included possible investment in its share capital, akin to the one in May that resulted in a Chinese state investment agency taking a $3bn stake in Blackstone.