Audax Private Debt

The platform primarily sources deals through the proprietary sponsor network of its parent, Audax Group, which has built relationships across hundreds of private equity firms over two decades. Audax's private equity team evaluates thousands of middle-market companies annually, generating a captive deal funnel for the private debt team. This inside-track origination model means many transactions are either pre-empted or completed as bilateral club deals before reaching broadly marketed auctions.

Audax Private Debt is a separate investment strategy running alongside, not inside, Audax Private Equity. Both sit under the Audax Group umbrella with shared parent-level infrastructure, brand, and sponsor networks. The credit team makes its own independent investment committee decisions, though it benefits from data, sector expertise, and deal flow generated by the firm's buyout professionals. The group manages roughly $36 billion in aggregate across the two platforms.

The firm structures first-lien senior secured loans, second-lien term loans, unitranche facilities, and mezzanine debt. Typical transaction sizes range from $25 million to $300 million per deal, and the capital is deployed to support LBOs, add-on acquisitions, refinancings, and growth investments for middle-market companies. The mandate covers single-lender situations as well as club and syndicated deals.

The strategy's mandate is concentrated on the United States and Canada. While Audax Group evaluates some investment opportunities in Western Europe, the private debt platform's stated origination focus and LP documentation point to a North American middle-market emphasis, aligning with the footprint of its sponsor relationships and its Boston and New York office base.

The firm raises capital through a combination of closed-end commingled funds, like the Direct Lending Solutions Fund series, and separate managed accounts for institutional investors that include public pension plans, insurance companies, and sovereign wealth funds. Audax Private Debt is registered with the SEC as an investment adviser, operating with a blend of permanent and drawdown capital vehicles.