Audax Group raised $500 million for its third senior loan fund, hitting its hard cap. The target was $400 million.
Audax Senior Loan Fund III will also use a loan of over $1.1 billion for this fund’s deployment, bringing the total investable capital to more than $1.6 billion.
SLF III will focus on making first lien senior secured loans to U.S. middle market companies as part of private equity-sponsored buyouts.
Audax’s investors include public and corporate pension funds, insurance companies, endowments and foundations, and high-net worth families.
Audax manages more than $11 billion in assets through its private debt and private equity businesses.
Since its inception in 1999, Audax, which has offices in New York, Boston and Menlo Park, California, has raised more than $15 billion.
Photo: A man poses with dollars, after buying them at a money exchange in Caracas, February 24, 2015. Reuters/Carlos Garcia Rawlins