Alternative investment manager Audax Group announced the debut of its new business platform Audax Strategic Capital (ASC).

Kumber Husain and Daniel Green, who both joined Audax earlier this year from DWS Private Equity, have been charged with overseeing the new business that will partner with sponsors to drive organic growth and to pursue M&A opportunities.

The new mid-hold strategy is designed to be “acyclical” and suitable for any market environment, according to Husain, managing director of ASC. Green added that the value of long-term patient capital is evident in the increased adoption of continuation vehicles.

“ASC’s mid-hold strategy broadens our role as a capital partner of choice for middle and lower middle-market companies and represents a natural extension of our firm’s history of collaboration with private equity sponsors,” stated Audax Group co-chief executive and cofounder Geoffrey Rehnert.

In connection with the new effort, Audax has opened an additional office in New York and established an office in London to enhance its presence in the European private equity community.

Since its founding in 1999, the firm has raised over $32bn in capital across its private equity and private debt businesses.