Align Capital Partners announced the closing of its inaugural independent sponsor-focused investment fund, Align Collaborate Fund I, LP. The strategy, which launched in late 2023, provides equity capital to the industry’s growing number of deal-by-deal investors. Collaborate I had its final close on March 26 at $233 million, well above its $150 million target.
Align Collaborate has anchored the equity syndicate for two leading sponsors’ new platform investments and the team has expanded to five dedicated investment professionals, led by Partners Grant Kornman and Michael Kornman. And Align Collaborate targets $10 million to $30 million equity investments per transaction in support of platform companies with between $2 million to $15 million of EBITDA.
Align Collaborate was designed to complement ACP’s Private Equity fund strategy and the Firm’s collective commitment to helping lower-middle market companies achieve their ambitious growth targets. And Align believes the firm’s two investment strategies enable it to take advantage of the vast opportunity at this end of the market. Since its founding in 2016, the firm has raised about $1.8 billion in committed capital and closed 122 total acquisitions.
Capstone Partners served as the exclusive placement agent for Collaborate I, and Kirkland & Ellis provided legal counsel.
KEY QUOTES:
“We are constantly looking for ways to innovate, yet stay true to our lower-middle market investing roots, and we believe Align Collaborate is a great addition to the firm.”
- Align Co-Founder and Managing Partner Rob Langley
“We are grateful for our investors’ support, and for the thought leadership and creativity from Grant, Michael and the entire Align Collaborate team.”
- Align Co-Founder and Managing Partner Chris Jones
“We are excited to have officially closed on our first fund exclusively dedicated to supporting sponsors that raise capital deal-by-deal. We believe our approach to this rapidly growing segment of private equity is truly distinctive.”
- Michael Kornman
“We created the equity solution that we ourselves sought, but could not find as independent sponsors, and the market response in our inaugural year has been humbling.”
- Grant Kornman
