The Angeles Equity Partners II fund is comprised of diverse group of institutional investors from North America, Europe, and Asia, including family offices, endowments, foundations, and public pension systems.
As it did with its first fund, Angeles intends to carry out its strategy of transforming underperforming industrial enterprises in North America through seasoned investment expertise, in-depth sector insight, and extensive operational engagement.
The fund has financial commitments totalling close to $1bn, more than 50% higher than the previous vintage.
Four new fund platform investments have already received funding commitments from Angeles:
- Agile Occupational Medicine;
- Precision Surfacing Solutions;
- Data Clean, and
- Custom Goods
Timothy Meyer, co-founder and managing partner of Angeles Equity Partners, commented: “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, added: “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.”
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By GlobalDataAngeles received legal representation from Kirkland & Ellis LLP, while Rede Partners LLP served as the Fund II’s exclusive global placement advisor.
Private equity investment firm Angeles Equity Partners specialises in the lower middle market.
The firm has developed a consistent method to reforming failing industrial companies in collaboration with Angeles Operations Group, which drives Angeles’ investing philosophy and helps businesses attain their full potential.