Audax Strategic Capital (ASC), a provider of mid-hold capital solutions that enable private equity sponsors to continue investing in expanding middle market companies, today announced recent additions to its growing team that reflect ongoing momentum since the launch of ASC in December.
Brian Doherty will join ASC as a Vice President based in New York. Brian was previously a Vice President with DWS Private Equity, where he worked with Kumber Husain and Daniel Green, who joined Audax as Managing Directors last year to launch the ASC strategy. Kumber and Daniel were previously Head of Americas and Head of Europe, respectively, at DWS Private Equity.
At DWS, Brian played an integral role in helping to source, construct and monitor the firm’s secondaries investment portfolio. Before DWS, Brian was an investment banker at Jefferies, where he worked in the firm’s Specialty Finance and Market Structure & Technology verticals.
Grant Chryssicas has also joined ASC as an associate in its New York office. Grant was previously a technology and growth equity investment banker at AGC Partners.
Audax Group launched ASC in December to serve as a value-added partner to financial sponsors seeking flexible capital solutions for performing assets. Kumber Husain and Daniel Green were the first to join last year to oversee the platform’s mid-hold strategy, with a focus on supporting portfolio company acquisitions with new capital, leveraging the buy-and-build capabilities of Audax Private Equity. In addition to more traditional mid-hold and follow-on investments, the strategy will opportunistically consider continuation-capital transactions, or single-asset secondaries, when a meaningful component of the investment entails capital for acquisitions.
Unlike more traditional secondaries strategies that invest in the fund stakes of limited partners, ASC is targeting mid-hold assets that have reached an inflection point and require additional funding to pursue M&A or organic-growth initiatives. Investments can take the form of either equity or bespoke structured solutions and the deals are generally premised on a strong alignment with existing sponsors.
“We’re building a team with demonstrable structuring expertise, multi-asset class experience, and a track record delivering customized solutions to GPs and their portfolio companies,” noted Kumber Husain, Managing Director of ASC, based in New York.
“We’re already seeing considerable interest in this strategy from prospective deal partners,” added Daniel Green, Managing Director of ASC, based in London. “The build out of our team represents an exciting development as our vision for ASC begins to take shape.”