Audax accumulates $1.9 billion with latest mezzanine debt fund Audax Group closed its latest mezzanine debt fund, Audax Mezzanine Fund V, at $1.85 billion. The closing well exceeded its original fundraising target of $1.5 billion, a news release said Thursday. The previous fund, Audax Mezzanine Fund IV, closed at its hard cap of $1.2 billion in 2016, above its fundraising target of $1 billion. Audax Mezzanine Fund III closed at $1 billion in 2011. The fund will source junior debt investments in North American private equity sponsor-backed companies, according to the news release. A spokesman could not be immediately reached for further information. Related Articles