Audax Private Debt wraps up sophomore direct lending fund at $3bn

DLS Fund II's investors include pension funds, sovereign wealth funds, insurance companies, family offices, endowments and foundations.

  • The closing of Audax Direct Lending Solutions Fund II brings Audax Private Debt to $4.5 billion of total investable capital
  • Since inception, Audax has invested over $34 billion across more than 1,200 companies
  • Based in New York, Audax Private Debt has $20 billion of assets under management

Audax Private Debt, a provider of financing solutions for middle-market private equity firms, has closed its second direct lending fund at $3 billion, beating its $2.25 billion target.

The closing of Audax Direct Lending Solutions Fund II brings Audax Private Debt to $4.5 billion of total investable capital.

DLS Fund II’s investors include pension funds, sovereign wealth funds, insurance companies, family offices, endowments and foundations.

“We are extremely pleased to have again received broad investor interest in our Direct Lending Solutions strategy and want to thank our limited partners. We believe the demand for DLS Fund II reflects our excellent investing track record, our deep experience across multiple credit cycles, and our consistent underwriting approach in a wide variety of economic environments,” said Kevin P. Magid, president of Audax Private Debt in a statement. “Coupled with our other senior debt and junior capital funds, the expansion of our unitranche financing capabilities through DLS Fund II further positions Audax Private Debt as a lender of choice to private equity borrowers.”

Since inception, Audax has invested over $34 billion across more than 1,200 companies. For over 20 years, the firm has focused on providing financing to companies with EBITDA of $10 million to $75 million.

Based in New York, Audax Private Debt has $20 billion of assets under management.