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Laxman Pai, Opalesque Asia:

Audax Group closed its Audax Direct Lending Solutions (DLS) Fund at $1.65 billion in capital commitments, exceeding its $1.25 billion fundraising target.

The fund, managed by alternative money manager's private debt unit, makes debt investments in North American middle-market companies backed by private equity sponsors.

DLS exceeded its fundraising target of $1.25bn with commitments from a diverse set of institutional investors from the U.S., Europe, Asia?€?Pacific, the Middle East, Canada and Latin America.

Including anticipated leverage, DLS has over $2.6bn of total capital available to deploy in North American middle market companies.

With DLS, Audax Private Debt continues its proven strategy of directly sourcing debt investments in private equity sponsor?€?backed middle market companies. The Fund enables Audax Private Debt to utilize its senior and junior debt underwriting expertise to provide unitranche and stretch senior financings of up to $175m per transaction.

"We are pleased to have received broad investor support for our newest product offering and would like to thank our new and existing investors for their commitment to the firm," said Kevin P. Magid, Managing Director and Head of Audax Private Debt.

"Direct Lending Solutions enhances our financing capabilities, and together with our senior debt and mezzanine debt funds, allows us to provide an extensive variety of financing solutions to our private equity cl......................

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