• Audax Private Equity was named “Mid-Market Firm of the Year in North America” as part of the 2022 Private Equity International Awards.
• The firm was also voted “Best of the Best” PE firm in the mid-cap category by South Korean institutional investors surveyed by The Korea Economic Daily, Global Edition.
• These and other honors reflect another strong year for Audax Private Equity, marked by considerable deal activity, liquidity events, and new strategies.
BOSTON and SAN FRANCISCO – March 27, 2023 – Audax Private Equity (“Audax”), a leading alternative investment manager and capital partner for North American middle market companies, received several high-profile awards and rankings in the first quarter of this year. Most recently, in March, the firm was named Mid-Market Firm of the Year in North America in the 2022 Private Equity International (“PEI”) Awards and was voted the “Best of the Best” private equity firm in the mid-cap category by South Korean institutional investors surveyed by The Korea Economic Daily, Global Edition (“KED Global”).
This recognition follows other honors so far awarded to Audax in 2023. Audax was also ranked among the top three most active private equity firm in the U.S. in PitchBook’s 2022 Annual League Tables, while Audax Private Equity Fund VI was among the top five funds over $1 billion in size in Preqin’s 2023 ranking of the Top Performing Private Equity Funds by Net IRR. Audax was also included in the inaugural ranking of the Top 50 Private Equity Firms for Executives, compiled by PrivateEquityCXO and Falcon Partners.
“We are honored to receive these distinctions and believe it’s a testament to the organization and team we’ve built at Audax over the previous two-plus decades,” said Young Lee, Co-President and Senior Managing Director of Audax Private Equity. “These awards help to validate the investments we’ve made in our team and our platform that position Audax as a partner of choice among business owners, the broader deal community, and across our global investor base.”
In 2022, Audax Private Equity completed 10 new platform investments, acquired 112 add-ons, and secured 15 liquidity events that translated into $2.8 billion in total realizations (including both fund capital and GP co-investment vehicles). Audax Group also introduced Audax Strategic Capital, based in New York and London, to serve as a flexible partner to private equity sponsors and provide a versatile mix of mid-hold and follow-on investments as well as continuation capital.
“We take deep pride in the breadth and strength of the relationships we’ve developed across the middle market,” said Keith Palumbo, Co-President and Senior Managing Director of Audax Private Equity. “We also recognize that these honors wouldn’t be possible without the deep sense of partnership that characterizes our work with portfolio company management teams, lenders, deal partners, and our peers, or without the ongoing support of our global investor base. This collaboration has been integral to our success and we look forward to building upon these relationships in the years to come.”
Methodologies + Links:
2022 PEI Awards: Published on March 1, 2023, the annual PEI Awards are determined through a reader vote in which Private Equity International invites submissions that help to inform the publication’s creation of a short-list of candidates across more than 70 different categories. Readers then vote on the award winners through an electronic survey. Coverage can be found at https://www.privateequityinternational.com/pei-awards-2022/.
Best Asset Managers by Korean Investors 2022: Published on March 21, 2023 in the Korea Economic Daily, the annual awards program are determined by a survey of 20 leading institutional investors in South Korea, conducted by KED Global. Coverage can be found at https://www.kedglobal.com/korean-investors/newsView/ked202303170019.
PitchBook’s 2022 Global League Tables: Published on February 17, 2023, all league tables included in PitchBook’s rankings are compiled using the count of completed deals for the specified deal type, region and other criteria. Only publicly disclosed transactions and/or transactions confirmed by PitchBook’s primary research team are included. For private equity, the rankings include all PE investment types (buyouts as tracked by PitchBook, growth and investor buyouts by management), excluding real estate investments. The PitchBook interactive 2022 Annual Global League Tables rankings can be found at https://pitchbook.com/news/articles/global-league-tables-2022-annual.
Preqin®️’s Digital League Tables: Published on February 1, 2023, Preqin’s Digital League Tables are compiled using public domain information and data reported to Preqin by the participants; they are not independently verified or assessed. Preqin cannot therefore guarantee the accuracy of the information pro-vided. Details of Preqin’s methodology are set out in the PC performance data guide and HF performance data guide. The rankings can be found at https://www.preqin.com/data/preqin-league-table-rankings.
Top 50 PE Firms for Executives: The findings of the report, derived and published on February 8, 2023, by PE-CXO and Falcon, are based on a survey of more than 1,000 private equity-backed executives in the U.S. conducted from July 2022 – December 2022, as well as interviews with numerous experienced portfolio executives. To access the full report, please visit https://privateequitycxo.com/top-50-firms.
None of the aforementioned award programs – The PEI Awards, KED Global's LP Survey, PitchBook Global League Tables, Preqin League Tables, or the Top Private Equity Firms for Executives – should be considered an endorsement of Audax or its funds by the authors or distributors of the rankings or honors. These awards may not be representative of any one client’s experience with Audax and is not indicative of Audax’ future performance. They are not intended to be a recommendation or investment advice; does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. These awards do not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action.
Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $15 billion of assets under management, over 185 employees, and 80-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,150 add-on acquisitions. Through our disciplined buy-and-build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value.
Audax Private Equity is a part of Audax Group, a leading alternative investment manager with approximately $36 billion of assets under management. For more information, visit audaxprivateequity.com or follow us on LinkedIn.