Audax raises $1.7bn for Continuation Fund

Audax Private Equity completed the fundraise for its first Continuation Fund, which is also its first GP-led secondary private equity fund.

The fund has $1.7 billion in capital commitments which funded the purchase of portfolio companies from Audax’s 2012 vintage Audax Private Equity Fund IV, which has $1.25 billion in capital commitments.

The transaction was led by AlpInvest Partners, Lexington Partners and Hamilton Lane and included a diverse group of secondary and primary investors, including Fund IV LPs, which has the option of reinvesting their Fund IV value into the Continuation . . .

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