Audax Private Debt has wrapped up a $1 billion continuation vehicle for private credit, with Pantheon, a global credit secondaries solutions investor serving as the lead investor.
The new fund, Audax Direct Lending Solutions Fund I CV, was formed to purchase a mix of first-lien, senior secured loans and related equity co-investments that previously sat in Audax Private Debt’s Direct Lending Solutions Fund I, according to a press release. That earlier fund collected $1.65 billion in commitments and closed in January 2019. Pantheon led and structured the CV transaction.
“We believe this transaction underscores the strength and stability of the DLS I portfolio, our commitment to underwriting discipline, and our longstanding credit-first approach, which have contributed to our performance across market and economic cycles,” noted Kevin Magid, CEO of Audax Private Debt.
“It also speaks to our ongoing efforts to deliver flexibility to our investors and optimize …
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