Audax gathers $500m

The firm continues to target the US midmarket.

Audax Senior Loan Fund III has held a final close at its hard cap of $500 million, surpassing its target of $400 million. The oversubscribed vehicle will mainly invest in first lien senior secured loans to the US midmarket as part of private equity-sponsored buyouts.

Audax Senior Loan Fund II closed in February 2013 with $400 million in committed capital.