Audax Collects $1.85bn for New Debt Fund

Audax Private Debt, the debt financing unit of multi-strategy investment firm Audax Group, has closed on $1.85bn for its fifth mezzanine fund to target private equity backed mid-market businesses.

Commitments to Audax Mezzanine Fund V exceeded the firm’s fundraising target of $1.5bn, Audax said. New York-based Audax Private Debt invests in private equity backed mid-market companies through a variety of strategies, including first- and second-lien and junior debt as well as equity co-investments.

Audax Private Equity is a leading middle market private equity firm with offices in Boston and San Francisco. Since its founding in 1999, the firm has raised over $27bn in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6bn in more than 135 platforms and over 925 add-on companies, and is currently investing out of its $3.5bn sixth fund.

Source: Wall Street Journal

Can’t stop reading? Read more