Audax Private Debt wraps up fifth mezzanine fund at $1.85bn

Audax Private Debt, Audax's debt financing unit, has closed its fifth mezzanine fund at $1.85 billion, beating its $1.5 billion target.

Audax Private Debt, Audax’s debt financing unit, has closed its fifth mezzanine fund at $1.85 billion, beating its $1.5 billion target. Audax Mezzanine Fund V’s investors include returning and new institutional investors in the U.S., Europe, Asia‐Pacific and the Middle East. Audax Private Debt invests in middle-market companies through first lien, stretch senior, unitranche, second lien, junior debt and equity co-investment solutions.

PRESS RELEASE

6 May 2021

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” or the “Fund”) with $1.85 billion in capital commitments. Mezz Fund V was significantly 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.”

About Audax Private Debt
Based in New York, Audax Private Debt is a leading debt capital partner for North American middle market companies. Since its inception in 2000, Audax Private Debt has invested over $23 billion across more than 860 companies in support of over 240 private equity sponsors, and has raised over $17 billion in capital. The platform offers its clients a range of financing solutions, including first lien, stretch senior, unitranche, second lien and subordinated debt, as well as equity co-investments. With more than 40 investment professionals and 80 total employees, Audax Private Debt provides financing certainty, add-on investment capability, and the experience and collaborative approach to partner with private equity firms and their portfolio companies. For more information, please visit www.audaxprivatedebt.com.