Audax Private Equity Raises $7.8B for Two “Buy and Build” Strategies

Audax Private Equity, a part of $36 billion alternative investment manager Audax Group, has closed two new funds – Audax Private Equity Fund VII and Audax Private Equity Origins Fund I – totaling $7.8 billion, including $1.8 billion from the firm.

Both funds exceeded their respective fundraising targets. Origins closed on $774 million in commitments, while Audax’ flagship vehicle, Audax Private Equity Fund VII, hit its hard cap of $5.25 billion.

The funds will be deployed across the middle and lower-middle markets across six industries: business services, consumer, financial services, healthcare, industrial services and technologies and software and technology.

“The successful fundraises are a testament to our 20-plus year focus on the middle market, the tenure and experience of our team, and Audax’ Buy & Build strategy, which drive the consistency and persistence of our approach against any economic backdrop,” said Young J. Lee, Co-President of Audax Private Equity.

The $1.8 billion Audax commitment represents approximately 30% of the total LP commitments across both funds. Since inception, Audax Private Equity has committed $4.1 billion to invest alongside the firm’s LPs.

Fund VII has already deployed approximately $1.3 billion across seven platform investments and Origins Fund I has deployed just over $195 million across three platforms.

Based in Boston and San Francisco, Audax Private Equity manages approximately $16 billion of assets.