– Warren Equity Partners Manager, L.P. (WEP) announced the closing of Warren Equity Partners ELIDO Fund II, L.P. and Warren Equity Partners ELIDO Fund II-A, L.P. (together “ELIDO II”) at its hard cap of over $550 million, surpassing the $450 million target.
– The oversubscribed fund is backed by a diverse investor base including endowments, pension funds, funds of funds, and family offices.
– ELIDO II builds on WEP’s nearly 10-year track record of investing in companies that maintain, operate, and upgrade infrastructure assets.
– The small-cap strategy complements WEP’s flagship fund series and targets lower middle market companies providing mission-critical products and services in fragmented infrastructure and facility markets.
– The fund will continue WEP’s partnership-oriented approach: building leading teams, promoting organic commercialization, and pursuing M&A growth opportunities.
– Steven Wacaster, Managing Partner and Co-Founder, highlighted investor support, WEP’s differentiated platform, and the fund’s focus on building strong companies.
– Scott Bruckmann, Partner and Co-Founder, emphasized WEP’s thematic knowledge, investment approach, and operating resources to support companies in fast-growing infrastructure segments.
– ELIDO I closed in October 2021 at $255 million.
– WEP’s flagship Fund IV closed in April 2023 with over $1.4 billion in commitments.
– WEP currently manages approximately $4.6 billion in AUM and has completed 124 transactions, including partnerships with 28 platform companies across core infrastructure markets.
– Aqueduct Capital Group, LLC acted as placement agent; Kirkland & Ellis LLP provided legal counsel.
