Audax Group Closes Its Second Private Equity Fund at $700 Million.

BOSTON & NEW YORK -- Audax Group has raised its second private equity fund, Audax Private Equity Fund II. Total capital raised is $700 million, in excess of the $600 million target. Audax Private Equity Fund II will be invested exclusively in control, leveraged acquisitions in middle market companies. Audax Private Equity Fund I has fifteen portfolio companies remaining with combined revenues of $1.9 billion.

Existing Audax LPs who participated in Audax Private Equity Fund II include Harvard Management Company; Massachusetts Institute of Technology; California Public Employees' Retirement System (CalPERS); Pennsylvania State Employees' Retirement System (SERS); Commonfund Capital; and FLAG Capital. Several new limited partners invested in the new fund, including GIC Special Investment Pte Ltd.; University of Virginia Investment Management Company; The Rockefeller Foundation; and State Retirement and Pension System of Maryland.

Founders and Co-CEOs Geoffrey S. Rehnert and Marc B. Wolpow stated "We are very pleased with commitments received from existing and new investors who value our strategy, our experience, and our team."

Audax Private Equity is part of Audax Group, a leading private equity and mezzanine debt investor in U.S. middle market companies. Founded in 1999, with offices in Boston (Private Equity) and New York (Mezzanine Debt), Audax Group has 65 employees and manages in excess of $1.7 billion in capital.

Audax Group expects to initiate fundraising for its second mezzanine debt fund, Audax Mezzanine Fund II, later this Fall. Audax Mezzanine, based in New York, is currently investing the $440 million Audax Mezzanine Fund I.