Feb 08, 2023

Audax Private Debt Reputation?

Interested in the firm and I’m aware of their strong PE brand. Regarding their private debt group, how do they compare to other mezzanine debt funds (or other credit shops that offer analyst programs)? What have their returns been like? For those in credit, what is their reputation across the street?

Would appreciate any insight on any of the above questions.

 

I’ve done a few deals with them. They’ve been around for a long time. Historically they were doing small pieces of lower middle market deals. Within the last few years they raised a little bit more money and have been a lot more active. I’m sure there is a wall between them and the buy side guys but there is probably a lot of LP crossover which I would view as a huge positive. 

 

They don't lead a lot of deals. They did one for an accounting/advisory firm deal recently iirc but most deals they just participate. Not sure being the private debt arm of a PE helped them or not. On one hand, the sponsors are direct competitors of their PE arm, on the other hand, we’ve had PEs with PD arm asked us to get allocation on deals we lead using the relationship they have with us on the PE side.

 

talked to HH about an opp there - they don't really do much Mezz stuff anymore. Almost exclusively focused on LMM DL. Platform just doesn't have the necessary scale to have really differentiated capabilities.

 

Neque autem fugiat optio saepe dicta velit odio ut. Et animi dolore tempore. Eaque et est earum. Sint aut harum sequi ut.

Rem ea voluptatum atque deleniti sed quo. Rerum enim maxime cumque sit est.

Aut sed nulla cupiditate quia omnis porro pariatur in. Id quas et nihil ea sit. Magnam commodi expedita voluptatem aut alias.

Velit perspiciatis commodi asperiores itaque sint nobis. Enim sed voluptatem dolorum illum ut culpa. Itaque in nihil et sit voluptas harum ut. Illum non dolorem praesentium dolor nulla suscipit. Rerum aut ratione laboriosam veniam quidem.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.8%
  • Harris Williams & Co. 25 98.3%
  • Goldman Sachs 17 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (21) $373
  • Associates (91) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (68) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”