Bold, brave, daring, non-conformist, unconventional… In modern language, it takes several words such as these to describe something that really embodies greatness and prestige. In Latin, however, it only takes one-audax-which, by definition, means all of the above.
Given the complexity and power that the word “audax” encompasses, it is no wonder that a private equity firm chose that name.
The Audax Group got its title from its Founders Marc Wolpow and Geoffrey Rehnert. According to Rehnert, co-CEO, the firm’s name reflects the founders’ goal, which is “to create an enduring organization.”
“The name Audax resonated with us, said Rehnert. “When we [Rehnert and Wolpow] left Bain Capital, our goal of creating from the outset an organization built to endure cycles and changes in the industry was still somewhat novel and unusual for the private equity business, since most firms had started out as small boutiques or partnerships.”
Rehnert uses the familiar words, “bold” and “unconventional” to describe the arrangement of their firm, saying that in 1999 firms were not generally “designed for the long haul and to be run as a business rather than a deal shop.”
Six years later Audax has been successful at making its mission a reality, with two offices, one in New York and one in Boston, and 65 employees. According to Rehnert, the firm’s private equity and debt capital market businesses have more than $1.5 billion under capital.