On the heels of the firm's 500th transaction, Boston alternative asset manager Audax Group has closed a fifth private equity fund with $2.25 billion in capital commitments.

The fund, Audax Private Equity Fund V, oversubscribed the $1.75 billion fundraising target. Public and corporate pension funds, insurance companies, endowments, foundations, high net worth families and the firm's senior professionals invested in the fund.

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