Warren Raises Over $550 Million for Oversubscribed Small Cap Fund
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Warren Raises Over $550 Million for Oversubscribed Small Cap Fund

The new fund will invest in middle market companies that are active in the operations and maintenance of critical infrastructure

Warren Equity Partners has held an above target and hard cap closing of Warren Equity Partners ELIDO Fund II LP and parallel funds (ELIDO II) with more than $550 million in capital commitments.

ELIDO II will invest in lower middle market companies that provide products and services used to maintain, operate, and upgrade infrastructure assets, and is a complementary strategy to Warren Equity’s flagship fund series.

The oversubscribed fund is backed by a group of new and returning limited partners including endowments, pension funds, fund of funds, and family offices.

“We are pleased to have completed another successful fundraise and are grateful to our existing investors, who have supported us across multiple funds, as well as several new investors that partnered with us for ELIDO II,” said Steven Wacaster, the managing partner and co-founder of Warren Equity. “We continue to believe that we have a compelling investment strategy with a terrific team that has helped us build a differentiated platform. Our focus with ELIDO II, consistent with prior funds, will be to invest in and build great companies, leveraging all of our resources at Warren.”

In April 2023, Warren Equity held an above target, hard cap, and oversubscribed final closing of its latest flagship fund, Warren Equity Partners Fund IV LP (and parallel funds) with more than $1.4 billion in capital. The firm’s earlier ELIDO fund closed in October 2021 with $255 million of capital.

“Since inception, we have been focused on identifying and working with high-quality companies and management teams in our core sectors, and we look forward to building on our firmwide momentum,” said Scott Bruckmann, a partner and co-founder of Warren Equity. “With our ELIDO strategy, we apply our thematic knowledge, investment approach, and operating resources to support companies capitalizing on growth opportunities in one of the fastest growing segments in the private markets.”

Warren Equity was founded in mid-2015 by Steven Wacaster, Scott Bruckmann, and Henrik Dahlback and is headquartered in Jacksonville Beach, Florida. Since founding, the firm has completed 124 transactions, including partnering with 28 platform companies across core infrastructure markets. With the closing of ELIDO II, Waren Equity’s assets under management now total approximately $4.6 billion.

Aqueduct Capital Group was the placement agent for ELIDO II and Kirkland & Ellis provided legal services.

© 2024 Private Equity Professional | April 4, 2024

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