Audax racks up $3.5 bln for sixth mid-market fund

Boston-based buyout shop Audax Group has closed its oversubscribed sixth fund at a hard cap of $3.5 billion, beating its $3 billion target.

Audax Private Equity Fund VI will invest in middle-market companies in North America. The fund’s investors span the globe, ranging from the U.S., Europe and Asia-Pacific to the Middle East, Canada and Latin America.

In November 2015, Audax closed its previous private equity fund at $2.25 billion, sweeping past its $1.75 billion target. No performance data was available on the Fund V.

Founded in 1999, Audax is led by Co-founders and Co-CEOs Geoffrey Rehnert and Marc Wolpow.