Audax Group, a leading alternative asset management firm specializing in investments in North American middle market companies, announced the successful final close of Audax Mezzanine Fund IV (“Fund IV”) at its hard cap of $1.2 billion of aggregate committed capital from a select group of institutional and high net worth limited partners. Fund IV was oversubscribed and exceeded its fundraising target of $1 billion.

Consistent with its predecessor mezzanine funds, Fund IV will continue Audax’ proven strategy of directly sourcing and investing in a diversified portfolio of junior debt securities, in addition to co-investments in equity securities, with a specific focus on direct lending to US middle-market companies as part of private equity-sponsored buyouts, recapitalizations, financings, and acquisitions.

Since its founding in 1999, Audax has raised almost $15 billion of capital and currently manages more than $10 billion through its Private Debt and Private Equity businesses. Audax Mezzanine, part of Audax Private Debt, is based in New York. Audax also has offices in Boston and Menlo Park. The firm raises its capital from a broad mix of institutional investors, including public and corporate pension funds, insurance companies, endowments and foundations, and high net worth families, in addition to a significant commitment from the firm’s senior professionals.

Audax Group is an alternative asset management firm specializing in investments in middle-market companies. Audax has over $10 billion in assets under management in its Private Debt and Private Equity businesses.