Leading infrastructure solutions investor 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. at its hard cap, with over $550 million in total capital commitments, exceeding its initial target of $450 million.
This oversubscribed fund, backed by endowments, pension funds, fund of funds, and family offices, will build on WEP’s nearly 10-year track record of investing in companies that maintain, operate, and upgrade infrastructure assets. The small-cap strategy complements the firm’s flagship fund series. It will invest in lower-middle-market companies that provide mission-critical products and services to the fragmented infrastructure and facility markets.
ELIDO II will continue utilizing WEP’s signature partnership-oriented approach. It will work with portfolio companies to build leading teams, promote organic commercialization strategies, and pursue attractive M&A growth opportunities.
ELIDO II’s predecessor fund ELIDO I closed in October 2021 at $255 million. More recently, in April 2023, the firm closed flagship Fund IV with over $1.4 billion in capital commitments. WEP has about $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.
KEY QUOTES:
“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. 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.”
– Steven Wacaster, Managing Partner and Co-Founder of Warren Equity Partners
“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. 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.”
– Scott Bruckmann, Partner and Co-Founder of Warren Equity Partners
