Warren Equity Partners (WEP), a leading investor in infrastructure solutions with $9.6 billion in assets under management, announced the closing of Warren Equity Partners Fund V, L.P. and Warren Equity Partners Fund V-A, L.P., with approximately $2.8 billion in total capital commitments. Fund V surpassed its initial target of $2.25 billion in less than 12 months and closed oversubscribed at its hard cap, receiving commitments from over 60 global institutions, including pension funds, insurance companies, asset managers, endowments and foundations, and family offices.
Fund V will continue WEP’s flagship strategy of investing in companies that maintain, operate, and upgrade critical infrastructure assets across the infrastructure solutions and facilities markets, spanning sectors such as power and utilities, water and wastewater, transportation, waste, digital infrastructure, and buildings and facilities. The firm will continue its partnership-oriented approach with management teams and leverage its dedicated Operations Group to drive organic growth, enhance operational capabilities, and execute consolidation strategies within fragmented markets.
On June 1, 2026, Fund V announced its first platform investment with the acquisition of USG Water Solutions, a leading U.S. provider of outsourced water tank maintenance and asset management services to municipal water utilities. Fund V is complemented by WEP’s small-cap strategy, ELIDO Fund II, raised in 2024 with over $590 million in commitments targeting lower middle market companies within the same thematic areas. Since its founding in 2015, WEP has completed 38 platform investments and over 175 add-on acquisitions across its funds. Harris Williams LLC served as advisor on the fundraise, and Kirkland & Ellis LLP served as fund counsel.
Founded in 2015, Warren Equity Partners invests in middle market businesses providing mission-critical products and services supporting infrastructure and the built environment, and has completed over 215 transactions to date. The firm has offices in Jacksonville Beach, Florida; New York; Houston; and London.
KEY QUOTES:
“We are grateful to our existing investors, who have supported us across multiple funds, as well as the new investors who partnered with us for Fund V.”
“We believe the successful close of Fund V reflects the strength of the strategy we have executed for more than a decade. Across changing market cycles and fundraising environments, we have remained focused on a defined set of infrastructure solutions markets and have continued to invest in our thematic research, sourcing capabilities, and operating resources, which are increasingly supported by our proprietary, in-house AI platform.”
Steven Wacaster, Managing Partner and Co-Founder, Warren Equity Partners
“Since inception, we have focused on identifying and partnering with market-leading companies and management teams across our core sectors.”
“Our investment process begins years before we make an investment, and we are continually developing themes within infrastructure solutions to source differentiated opportunities across both North America and Europe. We will continue to exercise discipline with our distinct sector focus and leverage our operating resources to create long-term value as we deploy Fund V.”
Scott Bruckmann, Partner and Co-Founder, Warren Equity Partners
