Audax closes Audax Senior Loan Fund III at $500 million hard cap

By Tali Rackner

Norfolk, Va., Oct. 17 – Audax Group announced the final close of the Audax Senior Loan Fund III at its hard cap of $500 million of committed equity, according to a press release.

The fund was oversubscribed and exceeded its fundraising target of $400 million of equity. It will have modest leverage, using a credit facility of more than $1.1 billion in commitments, bringing the total investable capital to more than $1.6 billion.

The fund’s investment strategy will remain consistent with that of the Audax Senior Debt business, investing primarily in first-lien senior secured loans to U.S. middle-market companies as part of private equity-sponsored buyouts, the release said.

Audax Group is an investor in middle-market companies and has offices in Boston and New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.