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Audax Group Closes Fifth PE Fund With $2.25B in Commitments

November 18, 2015, 07:27 AM
Filed Under: Industry News

Audax Group (“Audax”), a leading alternative asset management firm specializing in investments in North American middle market companies, announced the successful final close of Audax Private Equity Fund V at its hard cap of $2.25 billion of aggregate committed capital from a select group of institutional and high-net worth limited partners. The fund was oversubscribed and exceeded its fundraising target of $1.75 billion.

Consistent with its predecessor private equity funds, Fund V will continue Audax’ proven strategy of investing in middle-market companies across a select group of industries and will pursue a Buy & Build strategy that seeks to transform smaller companies into strategic assets.

Since its founding in 1999, Audax has raised $12 billion of capital and currently manages more than $9 billion through its private equity and private debt businesses. The firm raises its capital from a broad mix of institutional investors, including public and corporate pension funds, insurance companies, endowments and foundations and high net worth families, in addition to a significant commitment from the firm’s senior professionals.

"We appreciate the support from our existing and new investors and thank them for their commitment to Audax," said Co-Chief Executive Officers, Geoffrey S. Rehnert and Marc B. Wolpow. “The significant demand for our fifth private equity fund underscores the capability of our team and our differentiated strategy, as well as our investors’ confidence in our consistent track record of delivering attractive returns. We look forward to leveraging our deep industry experience to pursue and capitalize on exciting investment opportunities across the lower-middle market.”

Audax Group is an alternative asset management firm specializing in investments in middle-market companies. With offices in Boston, New York and Menlo Park, Audax has over $9 billion in assets under management in its private equity, mezzanine and senior debt businesses.

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