Strong Investor Demand Drives Final Close Above $500 Million Target
Los Angeles – August 15, 2023 – Angeles Equity Partners LLC (“Angeles”), a private investment firm focused on value creation through operational transformation, today announced the final closing of Angeles Equity Partners II, L.P. and its parallel funds (collectively, the “Fund”) with total capital commitments exceeding its target of $500 million.
The Fund is comprised of a diverse set of institutional investors from across North America, Europe and Asia and includes endowments, foundations, public pension plans, fund-of-funds and family offices.
Consistent with its first fund, Angeles will continue to execute on its strategy of transforming underperforming industrial businesses in North America through seasoned investment acumen, deep sub-sector insight and comprehensive operational engagement. The Fund is over 50% larger than the previous vintage, bringing total capital commitments to nearly $1 billion. Angeles has already committed capital to four platform investments in the new fund: Agile Occupational Medicine, Precision Surfacing Solutions, Data Clean and Custom Goods.
Timothy Meyer, co-founder and managing partner of Angeles Equity Partners, said: “We are incredibly grateful for the strong support and partnership of our Fund II investors and feel it is a true recognition of our investment strategy, ability to deliver value across the industrials landscape, and the institutional-quality firm we have thoughtfully constructed to capitalize on the incredible opportunity in the industrial sector.”
Jordan Katz, co-founder and managing partner of Angeles Equity Partners, said: “There are a number of attractive market fundamentals currently at play which we feel bolster our strategy and look forward to capitalizing on them for our investors as we continue our mission to be the leading middle-market industrials firm.”
Kirkland & Ellis LLP provided legal counsel to Angeles and Rede Partners LLP acted as the exclusive global placement advisor for Fund II.
About Angeles Equity Partners, LLC
Angeles Equity Partners, LLC is a specialist lower middle-market private equity investment firm. In partnership with Angeles Operations Group, LLC, the firm has developed a consistent approach to transforming underperforming industrial companies and this drives Angeles’ investment philosophy and helps businesses reach their full potential. Learn more online at www.angelesequity.com.