The environment near supermassive black holes (SMBHs) in galactic nuclei contains a large number of stars and compact objects. A fraction of these are likely to be members of binaries. Here we discuss the binary population of stellar black holes and neutron stars near SMBHs and focus on the secular evolution of such binaries, due to the perturbation by the SMBH. Binaries with highly inclined orbits with respect to their orbit around the SMBH are strongly affected by secular Kozai processes, which periodically change their eccentricities and inclinations (Kozai cycles). During periapsis approach, at the highest eccentricities during the Kozai cycles, gravitational wave (GW) emission becomes highly efficient. Some binaries in this environment can inspiral and coalesce at timescales much shorter than a Hubble time and much shorter than similar binaries that do not reside near an SMBH. The close environment of SMBHs could therefore serve as a catalyst for the inspiral and coalescence of binaries and strongly affect their orbital properties. Such compact binaries would be detectable as GW sources by the next generation of GW detectors (e.g., advanced-LIGO). Our analysis shows that ~0.5% of such nuclear merging binaries will enter the LIGO observational window while on orbits that are still very eccentric (e 0.5). The efficient GW analysis for such systems would therefore require the use of eccentric templates. We also find that binaries very close to the SMBH could evolve through a complex dynamical (non-secular) evolution, leading to emission of several GW pulses during only a few years (though these are likely to be rare). Finally, we note that the formation of close stellar binaries, X-ray binaries, and their merger products could be induced by similar secular processes, combined with tidal friction rather than GW emission as in the case of compact object binaries.
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