Angeles Equity Partners, a private investment firm focused on value creation through “operational transformation”, has held the final closing of Angeles Equity Partners II and its parallel funds, with total capital commitments in excess of its $500m target.
The fund attracted support from a diverse set of institutional investors from across North America, Europe and Asia, including 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 investing in underperforming industrial businesses in North America.
The new fund, which is over 50% larger than the previous vintage, brings Angeles’ total capital commitments to nearly $1 billion. Capital form the fund has already been committed to four platform investments: Agile Occupational Medicine, Precision Surfacing Solutions, Data Clean, and Custom Goods.
Kirkland & Ellis LLP provided legal counsel to Angeles and Rede Partners LLP acted as the exclusive global placement advisor for Fund II.