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Audax collects $1.85bn for new mezzanine fund fund Friday, May 07, 2021 Laxman Pai, Opalesque Asia: The alternative investment manager Audax Private Debt has closed on $1.85bn for its fifth mezzanine fund to target private equity-backed mid-market businesses. The closing of Audax Mezzanine Fund V (Mezz Fund V) well exceeded its original fundraising target of $1.5 billion, said a press note from the debt financing unit of multi-strategy investment firm Audax Group. 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. New York-based Audax Private Debt invests in private equity-backed mid-market companies through a variety of strategies, including first- and second-lien and junior debt as well as equity co-investments. ....
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 ....