Audax Private Debt, the debt financing unit of Audax Group, a leading alternative investment manager specializing in investments in North American middle market companies, today announced the successful close of Audax Mezzanine Fund V (“Mezz Fund V”) with $1.85 billion in capital commitments. Mezz Fund V was oversubscribed and exceeded its fundraising target of $1.5 billion, with commitments from a diverse set of both returning and new institutional investors in the U.S., Europe, Asia‐Pacific, and the Middle East.
Audax Private Debt invests in established middle market companies through first lien, stretch senior, unitranche, second lien, junior debt and equity co-investment solutions. With the successful closing of Mezz Fund V, Audax Private Debt will continue to execute on its proven strategy of directly sourcing junior debt investments in private equity sponsor-backed companies in North America.
“We greatly appreciate the strong support we received from both long-time and new limited partners, particularly in light of the challenging fundraising environment this past year,” said Kevin Magid, President of Audax Private Debt. “As one of the longest-tenured providers of mezzanine capital to North American middle market companies, we are pleased that this fundraise will allow us to remain a go-to source of financing for private equity-owned businesses. We look forward to using the capital raised to continue supporting our clients, as we have over the last 21 years.”
“The successful closing of Mezz Fund V allows us to continue our strategy of meeting the unique financing needs of middle market sponsors across the country,” said Rahman Vahabzadeh and Steve Ruby, Managing Directors at Audax Private Debt. “We believe Audax Private Debt remains ideally positioned to be a long-term value-added partner to our private equity clients.”