Audax Private Debt
Audax Private Debt is the North American middle-market private credit arm of Audax Group, founded in 2000. It provides senior debt, unitranche, junior debt, and equity co-investments to PE-sponsored companies with $10M–$100M EBITDA, financed through commingled funds, CLOs, and SMAs.
- Company typePrivate
- Founded2000
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Audax Private Debt does
Audax Private Debt is the debt-financing arm of Audax Group and a North American middle-market private credit platform founded in 2000. It provides tailored debt and equity capital solutions — first lien senior secured, stretch senior, unitranche, second lien, subordinated debt, and equity co-investments — to private equity-sponsored middle market companies with target EBITDA of $10 million to $100 million (senior debt) or $10 million to $75 million (unitranche and junior debt). Since inception, the firm reports investing more than $52 billion across 1,300+ transactions supporting 295+ PE sponsors, and it raises and manages this capital through a series of commingled debt funds, tax-efficient structures, separately managed accounts, and a middle-market CLO platform.
The firm's core technology and operating infrastructure is a multi-vehicle private debt platform spanning the Senior Debt, Unitranche, and Junior Debt strategies, the Direct Lending Solutions (DLS) fund series (Fund I $1.65B in 2019; Fund II $4.5B in 2023; a $1.0B continuation vehicle led by Pantheon in May 2026), a Mezzanine fund series (Fifth fund $1.85B in May 2021), and the Audax Senior Debt CLO platform (18 CLO transactions and $5.2B+ in assets across 10 active vehicles as of May 2026). The firm is a UNPRI signatory (since February 2022), operates a Dynamo Software-based investor portal, and distributes products via the iCapital Marketplace and a dedicated in-house wealth channel.
Revenue is generated primarily through recurring fund management fees on committed/invested capital across its debt funds and separately managed accounts, structuring and management fees on its 18 CLO transactions (including refinancings and resets), one-time origination and arrangement fees earned in roles such as Administrative Agent, Joint Lead Arranger, Sole Lead Arranger, and Bookrunner, incentive/performance fees (carried interest) on multiple fund vintages, and wealth-management distribution fees via iCapital and direct wealth channels. The customer base is bifurcated: PE-sponsored middle market companies (the borrowers) and institutional and private wealth limited partners (the investors), with the firm reporting more than 1,000 investors in 2025 alone.
Audax Private Debt firmographics
Firmographics- Name
- Audax Private Debt
- Legal name
- Audax Management Company, LLC
- Website
- https://www.audaxprivatedebt.com/
- Company type
- Private
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Audax Private Debt is the North American middle-market private credit arm of Audax Group, founded in 2000. It provides senior debt, unitranche, junior debt, and equity co-investments to PE-sponsored companies with $10M–$100M EBITDA, financed through commingled funds, CLOs, and SMAs.
- Ownership category
- akta.pro rank
Audax Private Debt industry classification
Industry- Product category
- Middle Market Private Debt / Direct Lending
- NAICS
- Credit Intermediation and Related Activities (522), Other Financial Vehicles (52599)
- SIC
- Miscellaneous Business Credit Institution (6159), Asset-Backed Securities (6189)
- akta.pro primary industry
- Senior Secured Direct Lending (FSANADAA)
- akta.pro secondary industries
- Asset-Based Lending (ABL) (FSANADAD), Real Assets — Real Estate Debt (Whole Loans, Mezzanine, CMBS/CLO) (FSAHAIAB)
Keywords
Where Audax Private Debt is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Audax Private Debt business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Fund Management Fees: Recurring management fees charged on committed/invested capital across commingled private debt funds (Senior Debt, Unitranche, Direct Lending Solutions, Mezzanine funds) and separately managed accounts. Over $43 billion raised across senior debt, unitranche, and junior debt strategies historically.
- CLO Structuring and Management Fees: Issuance, structuring, and ongoing management fees from 18 middle-market CLO transactions representing more than $5.2 billion in assets across 10 active vehicles. Includes refinancings and resets (e.g., $575M refinanced AAA notes in May 2026).
- Origination and Arrangement Fees: One-time fees earned as Administrative Agent, Joint Lead Arranger, Sole Lead Arranger, or Bookrunner on private debt transactions; lead arranger on senior secured, unitranche, and junior debt financings.
- Incentive / Performance Fees: Performance-based carried interest on fund returns across multiple fund vintages (e.g., Direct Lending Solutions Fund I closed on $1.65B in Jan 2019; Fund II closed on $4.5B in Jan 2023; Fifth Mezzanine Fund closed on $1.85B in May 2021).
- Wealth Management Distribution Fees: Distribution and platform fees earned via iCapital Marketplace and direct wealth channel (led by Managing Director of Wealth Management John Wierzba, hired October 2024), expanding access of private credit products to private wealth investors.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | — | Senior Debt: Investment size up to $200M; Target EBITDA $10M-$100M |
| Other | — | Unitranche: Investment size up to $350M; Target EBITDA $10M-$75M |
| Other | — | Junior Debt: Investment size up to $150M; Target EBITDA $10M-$75M |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
Audax Private Debt product offering
Product offeringCore offering
Audax Private Debt is a direct private credit lender that invests in North American middle market, private equity-backed companies through senior debt (first lien, stretch senior), unitranche, junior debt (second lien, subordinated), and equity co-investments. Capital is delivered via commingled funds, tax-efficient structures, separately managed accounts, and an 18-transaction CLO platform that has scaled to more than $5.2 billion in assets across 10 active vehicles.
Product overview
Audax Private Debt is a single, unified private debt platform (not a multi-product software suite) that delivers tailored financing solutions to North American middle market, private equity-backed companies. Founded in 2000, the platform is built around four core debt-and-equity product pillars: Senior Debt (first-lien senior secured loans, up to $200M), Unitranche (single-tranche solutions, up to $350M), Junior Debt (subordinated and second lien, up to $150M), and Equity Co-Investments. These product pillars are delivered through a series of flagship fund vehicles, including the Audax Direct Lending Solutions (DLS) Fund Series (Fund I, Fund II, and the DLS I CV continuation vehicle), the Mezzanine Fund Series, and the Audax Senior Debt CLO Platform (a structured-finance vehicle series that had reached 18 CLO transactions and over $5.2 billion in assets across 10 active vehicles as of May 2026). The platform also offers separately managed accounts and tax-efficient structures for institutional and wealth investors, plus an investor portal powered by Dynamo Software for LP reporting.
Differentiator
Problem solved
Functional benefit
Brands
- Audax Senior Debt: Audax Private Debt's senior debt / first lien loan investment strategy and associated CLO platform (Audax Senior Debt CLO series).
- Audax Direct Lending Solutions (DLS)
- Audax Mezzanine
Products and services
- Senior Debt First lien senior secured loans (selectively stretch senior / second lien / unitranche) to North American middle market companies. Investment size up to $200M; target EBITDA $10M–$100M. Delivered primarily through Audax Senior Debt fund vehicles and via club/non-syndicated loan structures.
- Unitranche Single-tranche unitranche and stretch senior loans to middle market companies sponsored by leading North American financial sponsors, typically with co-investment in equity securities. Investment size up to $350M; target EBITDA $10M–$75M.
- Junior Debt Junior capital financing in the form of subordinated debt and second lien loans to North American middle market companies sponsored by leading private equity firms, typically with co-investment in equity securities. Investment size up to $150M; target EBITDA $10M–$75M.
- Equity Co-Investments Equity co-investments made alongside Audax Private Debt's debt investments and sponsor partners in middle market portfolio companies, providing financing certainty, add-on investment capability, and a collaborative partnership model.
- Audax Direct Lending Solutions (DLS) Fund Series Series of commingled direct lending funds investing in first lien senior secured loans and equity co-investments to PE-backed middle market companies. Fund I closed January 2019 at $2.6 billion; Fund II closed January 2023 at $4.5 billion; DLS I CV closed May 2026 at $1.0 billion.
- Audax Senior Debt CLO Platform Series of middle-market collateralized loan obligations (CLOs) issued by Audax Private Debt to securitize senior debt loan portfolios. Platform comprises 18 transactions and more than $5.2 billion in assets across 10 active vehicles as of May 2026.
- Mezzanine Fund Series Series of mezzanine funds investing in junior debt securities (subordinated debt and second lien loans) with equity co-investments. Fifth mezzanine fund closed in May 2021 with $1.85 billion of commitments.
- Audax Private Debt Investor Portal Investor login portal hosted on Dynamo Software providing Audax Private Debt's limited partners and investors with secure access to fund information, reporting, and account data.
Quantifiable outcome
- $7.6 billion raised in 2025 — record annual capital raise in the firm's history
- +4 more outcomes
Companies that use Audax Private Debt
Customer profileNamed customers34 records
Segments10 records
Ideal customer profiles2 records
Audax Private Debt technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature4 records
Audax Private Debt partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship, minor and core.
- Kirkland & EllisflagshipKirkland & Ellis acted as legal counsel to Audax Private Debt on the $1.0 billion Audax Direct Lending Solutions Fund I CV (May 2026). Recurring legal counsel relationship for major transactions.
- PJT PartnersflagshipPJT Partners served as financial advisor to Audax Private Debt on the $1.0 billion Audax Direct Lending Solutions Fund I CV closed in May 2026.
- New York CaresminorAudax supports New York Cares as a community/charity partner for employee volunteer engagement in New York City.
- Food Bank for New York CityminorAudax supports Food Bank for New York City through volunteer days and charitable contributions.
- City HarvestminorAudax supports City Harvest through volunteer engagement activities (e.g., October 2024 group volunteer event).
- iCapitalcoreAudax Private Debt joined the iCapital Marketplace in June 2023 to expand access of its private debt strategies to private wealth investors via the iCapital platform.
- United Nations Principles for Responsible Investment (UNPRI)coreAudax Group became a signatory to the United Nations-Supported Principles for Responsible Investment (UNPRI) in February 2022. The Responsible Investment Committee at Audax Private Debt oversees implementation of the Responsible Investment Policy.
Scale indicators14 records
Recent moves6 records
Expansion highlights5 records
Audax Private Debt competitors and assessment
Company assessmentDirect peers
- Golub Capital: One of the largest direct lenders to the US middle market, offering senior debt, unitranche, and junior debt to PE-backed companies. Highly comparable to Audax in target customer (PE sponsors), product mix, and middle-market focus — and shares employee overlap (e.g., Chelsea Aharon was previously at Golub Capital).
- HPS Investment Partners: Large global private credit firm with a significant middle-market direct lending franchise. HPS has co-financed transactions with Audax (e.g., Forged Solutions Group with J.F. Lehman in March 2026), making it a frequent competitor and partner in US middle-market deals.
- Sixth Street: Large private credit and direct lending platform with significant middle-market exposure. Competes with Audax for PE-sponsored middle-market deals and offers similar senior/unitranche/junior financing solutions.
Broad incumbents
- Ares Management (Ares Capital / Ares Credit): Massive alternative asset manager with one of the largest private credit businesses globally. Ares Capital Corporation is the largest BDC and a major middle-market direct lender — competing with Audax across senior debt, unitranche, and junior debt strategies.
- Blue Owl Capital (Owl Rock): Public alternative asset manager with a large direct lending franchise (Owl Rock) targeting middle-market PE-sponsored companies. Competes with Audax for middle-market deal flow and has been actively expanding its private wealth distribution channel.
- Blackstone Credit: The credit arm of Blackstone, one of the world's largest alternative asset managers with $300B+ in credit AUM. Aggressively expanding in middle-market direct lending and competes with Audax for high-quality PE-sponsored middle-market financings.
- KKR Credit: KKR's global credit franchise with significant private credit and direct lending capabilities. Competes with Audax in middle-market PE-backed lending (e.g., Chelsea Aharon was previously at KKR's Private Credit and Capital Markets team).
- Apollo Credit: Apollo's massive credit business with direct lending and middle-market exposure. Competes with Audax in middle-market PE-sponsored deals and offers a wide range of credit solutions across the capital structure.
- Carlyle Credit: Carlyle's global credit franchise with significant US middle-market direct lending activity. Competes with Audax for PE-sponsored middle-market financings across senior debt, unitranche, and junior debt.
- TPG Credit: TPG's credit and capital solutions franchise, which includes middle-market direct lending activity. Competes with Audax for PE-sponsored middle-market financings and offers flexible capital solutions across the capital structure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Audax Private Debt social profiles
Digital presenceAudax Private Debt compliance and trust
Trust signalCompliance2 records
Audax Private Debt financial estimates
Financial estimateRevenue estimate
Valuation estimate
Audax Private Debt leadership team
Management profileNumber of profiles
Profiles23 records
Audax Private Debt subsidiaries and ownership
Company hierarchySubsidiaries2 records
Audax Private Debt funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Audax Private Debt M&A and investment
M&A and investmentM&A
Investments167 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Audax Private Debt
What does Audax Private Debt do?
Audax Private Debt is a direct private credit lender that invests in North American middle market, private equity-backed companies through senior debt (first lien, stretch senior), unitranche, junior debt (second lien, subordinated), and equity co-investments. Capital is delivered via commingled funds, tax-efficient structures, separately managed accounts, and an 18-transaction CLO platform that has scaled to more than $5.2 billion in assets across 10 active vehicles.
Is Audax Private Debt a public or private company?
Audax Private Debt is a private company. It is classified as corporate owned and is currently operating.
When was Audax Private Debt founded?
Audax Private Debt was founded in 2000. It employs 101 to 250 people.
Where is Audax Private Debt based?
Audax Private Debt is headquartered in New York, United States, in the North America region.
How does Audax Private Debt make money?
Five revenue lines are on record. Fund Management Fees are the primary driver. The others are CLO Structuring and Management Fees, origination and Arrangement Fees, incentive / Performance Fees and wealth Management Distribution Fees.
Who are Audax Private Debt's main competitors?
Direct peers on record are Golub Capital, HPS Investment Partners and Sixth Street. Broad incumbents are Ares Management (Ares Capital / Ares Credit), Blue Owl Capital (Owl Rock), Blackstone Credit, KKR Credit, Apollo Credit, Carlyle Credit and TPG Credit.
Does Audax Private Debt have an API?
No public API is recorded for Audax Private Debt.
What industry is Audax Private Debt in?
Audax Private Debt's product category is Middle Market Private Debt / Direct Lending. Its primary akta.pro industry code is FSANADAA, Senior Secured Direct Lending, with a secondary code of FSANADAD, Asset-Based Lending (ABL). Its NAICS code is 522 and its SIC code is 6159.