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

Fund will Invest in Middle Market Companies Focused on the Operations and Maintenance of Critical Infrastructure

April 02, 2024 09:00 AM Eastern Daylight Time

JACKSONVILLE BEACH, Fla. & NEW YORK–(BUSINESS WIRE)–Warren Equity Partners Manager, L.P. (“WEP”), a leading investor in infrastructure solutions, today announced the closing of Warren Equity Partners ELIDO Fund II, L.P. and Warren Equity Partners ELIDO Fund II-A, L.P. (collectively, “ELIDO II”) at its hard cap, with more than $550 million in total capital commitments, exceeding its initial target of $450 million.

The oversubscribed fund, which is backed by a diverse group of new and returning investors including endowments, pension funds, fund of funds, and family offices, will build on WEP’s nearly 10-year track record investing in companies that maintain, operate, and upgrade infrastructure assets. The small cap strategy complements the firm’s flagship fund series and will invest in lower middle market companies that provide mission critical products and services to the highly fragmented infrastructure and facility markets. ELIDO II will continue to utilize WEP’s signature partnership-oriented approach and work with portfolio companies to build leading teams, promote organic commercialization strategies, and pursue attractive M&A growth opportunities.

“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, Managing Partner and Co-Founder of Warren Equity Partners. “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.”

“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, Partner and Co-Founder of Warren Equity Partners. “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.”

ELIDO II’s predecessor fund, ELIDO I, closed in October 2021 at $255 million. Most recently in April 2023, the firm closed flagship Fund IV with over $1.4 billion in capital commitments. WEP now has approximately $4.6 billion in assets under management and has completed 124 transactions, including partnering with 28 platform companies across core infrastructure markets.

Aqueduct Capital Group, LLC served as the placement agent for ELIDO II and Kirkland & Ellis LLP provided legal counsel.

About Warren Equity Partners

Warren Equity Partners is a private equity firm investing in companies that provide mission-critical products and services into infrastructure end markets. Target sectors include power & utilities, waste, water & wastewater, digital infrastructure, transportation, buildings & facilities, and environmental, health & safety. WEP drives business improvement and value creation initiatives with a dedicated operations team whose domain knowledge and deep experience help management teams transform their businesses into leading enterprises. For more information, please visit www.warrenequity.com.