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Soule Signs Up With Audax –

Adding another name to the Audax Group’s roster, Edgar Soule recently made the decision to leave gatekeeper Abbott Capital Management for a new position with the Boston-based private equity group. The private equity pro is now senior vice president of investment development at the firm.

Soule’s stint at Abbott Capital’s Boston office lasted more than seven years. He headed up the marketing and client services at the New York-based firm, and was named managing director in March (Buyouts, March 20, p. 23).

Soule has taken on a similar capacity at Audax, where he is involved in developing relationships with limited partners for fund raising and investment, the only difference being that while Abbott works with fund-of-funds, Audax does direct investing in companies.

“I’d been tracking Audax and keeping a mental note since they were set up about a year ago. It was a great opportunity, so I said, Why don’t I feel it out?’ and I loved what I saw,” said Soule.

Influencing Soule’s decision to change firms was the chance to work with the professionals at Audax, which includes veterans from firms such as Bain Capital, Albion Alliance, Texas Pacific Group and CIBC World Markets Corp.

“Audax just seemed to have a terrific opportunity,” he said, “pulling together folks from proven players throughout the industry. It’s just a great opportunity to help build a premier alternative investment firm.”

Currently, Soule, who began in mid-September, is working with the rest of the Audax players on raising their new mezzanine fund, targeted at $350 million.