Ropes & Gray Advises Audax Private Debt On Closing Of Second Direct Lending Fund

Ropes & Gray advised Audax Private Debt on the closing of its second direct lending fund, Audax Direct Lending Solutions Fund II (DLS II). The fund closed with $3 billion in capital commitments and exceeded its initial target of $2.25 billion. With $4.5 billion in investable capital including leverage, the fund’s investors includes pension funds, sovereign wealth funds, insurance companies, family offices, endowments and foundations. The closing was announced Jan 19. in a press release.

Audax Private Debt is a leading middle market debt capital provider with $20 billion of assets under management.

The Ropes & Gray team that represented Audax Private Debt was led by asset management partner Jessica Marlin, and included asset management partner Peter Laybourn, tax partners Josh Lichtenstein and Jim Brown and private capital transactions partner Patricia Lynch.