Audax Private Equity Ranked in the Top 2% in the 2025 HEC Paris-Dow Jones Large Buyout Performance Listing
BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Audax Private Equity (“Audax”), a capital partner for middle and lower middle market companies, was recognized in the latest global ranking of large private equity (“PE”) firms published by HEC Paris-Dow Jones. The ranking draws on comprehensive and longitudinal data points to calculate the aggregate longer-term performance of PE firms based on different measures across funds raised between 2012 and 2021. This latest ranking represents the third straight year Audax was included among the top decile performers and saw Audax advance five spots year over year to be included among the top 2% of global private equity firms analyzed.
“It’s truly an honor to receive this recognition for three straight years,” said Young Lee, Partner and Co-President of Audax Private Equity. “We believe our consistent placement in the top 20 reflects the consistent execution of the Audax Value Agenda
, which couples extensive sector and investment experience in the middle market with a systematic operating model and resources to try to institutionalize scale-building and performance.”
The HEC Paris-Dow Jones Private Equity Performance Ranking is an annual quantitative performance ranking compiled by HEC Paris strategy professor Oliver Gottschalg (holder of the school’s Antin IP Chair on Private Equity and Infrastructure) and published each year by HEC Paris Business School and Dow Jones. The ranking uses performance data, as of September 2025, and the rankings are based on a combination of IRR, DPI and TVPI data, with performance assessed both as absolute values and measured against appropriate benchmarks. In total, this latest study included a sample of 695 PE firms and 1,439 funds, with an aggregate equity volume of $2.5 trillion.
“This recognition reflects not just our efforts to invest capital, but also the investments we’ve made in our team and strategic resources to work closely with our portfolio companies and equip them to try to create, enable and protect value throughout every stage of the investment lifecycle,” added Keith Palumbo, Partner and Co-President of Audax Private Equity. “It’s these investments that facilitate our ability to deploy capital in a consistent manner, bring differentiated capabilities to bear to help our portfolio companies pursue the opportunities in front of them and then crystalize value through realizations that reflect our efforts to build better businesses.”
In 2025, Audax Private Equity completed nine new platform investments across its Flagship and Origins strategies, as well as more than 100 add-on acquisitions. The firm also completed nine exits through sales, and raised its debut fund for Audax Strategic Capital, which amassed approximately $1.3 billion of investable capital when combined with related vehicles and Audax Private Equity’s GP commitment.
DISCLAIMERS AND METHODOLOGIES:
The aforementioned recognition should not be considered an endorsement of Audax or its funds by the authors or distributors of the rankings or honors; these honors are not necessarily representative of any one client’s experience with Audax; and is not necessarily indicative of Audax’ future performance. These award programs are not intended to be a recommendation or investment advice, and do not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action.
The HEC-DowJones ranking draws on a comprehensive set of data, gathered as of December 2025, on PE fund performance provided by preqin and directly from PE Firms and uses a distinct methodology to calculate the aggregate performance of a PE firm based on different performance measures for all the funds managed by this firm. The method is able to aggregate performance across vintage years and considers relative and absolute returns. In total, the rankings analyzed performance data from 695 PE firms and the 1439 funds they raised between 2012 and 2021 with an aggregate equity volume of $2.5 trillion. Data provided by Audax was as of Sept. 30, 2025. No financial considerations were provided to be considered or to promote the rankings. To learn more about the HEC-DowJones methodology, please see here: https://www.hec.edu/en/private-equity-ranking
ABOUT AUDAX PRIVATE EQUITY:
Headquartered in Boston, with offices in San Francisco, New York, London and Hong Kong, Audax Private Equity is a leading private equity platform focused on investing across the North American middle market. Our objective is to accelerate value creation through our Buy & Build strategy and the Audax Value Agenda, a holistic framework that seeks to create, enable, and protect value across every stage of the investment lifecycle. As of January 2026, Audax Private Equity had approximately $19.5 billion of assets under management and, since inception in 1999, has invested in more than 180 platforms and more than 1,400 add-on acquisitions. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.
Contacts
Gasthalter & Co.
audaxprivateequity@gasthalter.com
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