Building Momentum

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.

METHODOLOGIES:

HEC-DowJones Ranking: 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

KED Global: As part of its polling conducted prior to the February 23, 2026 publication date, KED Global asked respondents to select their two preferred global asset managers in the categories of private equity, private debt, real estate and infrastructure and three in the fund-of-funds segment. Respondents were asked to select their preferred GPs based on the following criteria: asset management capabilities, client service, brand reputation, and innovation in products and services. This year’s poll received responses from approximately 40 Korean pension funds, asset managers and securities firms. All respondents participated on the condition of anonymity to ensure candid and impartial views. No financial considerations were provided to be considered or to receive the recognition. The awards coverage and more information can be found here: https://www.kedglobal.com/alternative-investments/newsView/ked202602030004

PitchBook: Published on February 27, 2026, and tracking activity over the calendar year third quarter, the league tables included in PitchBook’s rankings are compiled using the count of completed deals for the specified deal type, region and other criteria. Only publicly disclosed transactions and/or transactions confirmed by PitchBook’s primary research team are included. For private equity, the rankings include all PE investment types (buyouts as tracked by PitchBook, growth and investor buyouts by management), excluding real estate investments. To learn more, please see here: Global league tables: 2025 Annual - PitchBook

BluWave, LP selects the top innovators through a comprehensive assessment process focused on four core pillars: proactive due diligence practices, transformative value creation, modern PE firm operations, and corporate citizenship. As part of its assessment over the previous calendar year, BluWave considered perspectives from investors, placement agents, investment bankers, executives, and advisors across the broader private equity landscape. BluWave has not received investment capital from and holds no ownership interest in the PE firms recognized under the Top Private Equity Innovator awards program. BluWave received no compensation from any of the PE firms in connection with this awards program. However, BluWave may otherwise provide services to the PE firms and/or their portfolio companies, but BluWave confirms that its assessment of the PE firms was independent of any such service arrangements. Top 2% in the PE industry is based on BluWave’s review of the more than 6,000 PE firms in the U.S. and Canada from which the 105 PE firms were selected as award recipients. More information can be found here: https://lnkd.in/eajE3a9P

Mergers & Acquisition Journal: Published on May 4, 2026, Mergers & Acquisitions Journal’s deals of the year program considered U.S. middle market transactions that closed between the dates of January 1, 2025 and January 31, 2026. The selection process was based on deals that stood out from others, were either pioneering or innovative, demonstrated leadership, in addition to other factors. No financial considerations were made to be selected. A nominal licensing fee was paid to promote the award win. To learn more, please see here: https://lnkd.in/eNXdUPri

WSJ Pro Women to Watch List: The 2026 Women to Watch list, issued by The Wall Street Journal Pro Private Equity on March 9, 2026, was based on the time period covering the year prior to the November 19, 2025 deadline for submission. Audax did not pay a fee to submit or promote this award. The coverage, and additional information about the selection criteria, can be found here: WSJ Pro - Private Equity - Women to Watch - WSJ.com

Private Equity International's PEI Future 40: The 2026 PEI Future 40, issued by Private Equity International on May 1ˢᵗ, 2026, was based on the time period covering the year prior to the February 2026 deadline for submission. Audax did not pay a fee to submit or promote this award. The coverage, and additional information about the selection criteria, can be found here: Future 40 Leaders – 2026: Dealmakers