Audax Seeks Approval for Tiered Shares and Varying Fees
Published Date: 9/30/2025
Notice
Summary
Audax PDB Management Company and Audax Private Credit Fund want permission to offer different types of shares with varying fees and sales charges. This change affects investors in these closed-end business development companies and could impact how much they pay in fees. The SEC will decide by October 21, 2025, unless someone asks for a hearing.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Fund may offer multiple share classes
Audax PDB Management Company and Audax Private Credit Fund asked the SEC for permission to let their closed-end business development company issue multiple classes of shares. The application was filed August 18, 2025 and amended August 27, 2025, and the SEC will act (or receive hearing requests) by October 21, 2025.
Share classes may carry different fees
The applicants request permission to offer share classes with different sales loads and with different asset-based distribution and/or service fees, which could change how much you pay in fees if you invest in the fund. The SEC will consider hearing requests through October 21, 2025.
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