Property Management Firms Akam, Orsid Acquired by Audax Private Equity

In the immortal words of Jedi master Qui-Gon Jinn, there’s always a bigger fish.

Just four months after a merger between property management firms Akam and Orsid New York, both are being acquired by investment firm Audax Private Equity, Commercial Observer has learned.

Akam also merged with Metro Management in March 2025, and the acquisition of Orsid in November brought an additional 260 residential buildings into the fold.

Orsid informed co-op boards on Tuesday of yet another recent change for the company while ensuring that operations would remain the same.

“Audax Private Equity, a leading private equity firm with a strong track record of supporting and growing middle‑market companies, has acquired Akam and its subsidiaries — including Orsid New York,” Neil Davidowitz, president of Orsid, said in a letter to its portfolio’s board presidents.

“I would like to reiterate the assurance that we gave you in the fall, that we retain full operational control and autonomy in all management decisions, want to emphasize that this news does not change who we are or how we operate,” Davidowitz added.

Audax did not immediately respond to a request for comment, and the price for the acquisition is unknown.

Most properties managed by Orsid are co-op and condo buildings that hire the company on a contractual basis to manage concierge services, building maintenance and day-to-day shareholder services.

The acquisition might be Audax’s first foray into property management, as the majority of the companies in its portfolio are listed as companies in the industrial services and technologies, business services and health care industries.

As of January, Audax had approximately $19.5 billion of assets under management and has invested in more than 180 platforms and over 1,400 add-on acquisitions, according to the firm.

Mark Hallum can be reached at mhallum@commercialobserver.com.