Angeles Equity Partners has closed its second fund, giving the operations-focused private-equity firm its largest pool of capital yet to invest in the lower midmarket.
The Santa Monica firm said Tuesday that it gathered more than $540 million, including commitments to parallel vehicles, for Angeles Equity Partners II. Angeles exceeded its $500 million target for the vehicle, and closed the fund with 50% more commitments than its debut fund, which it wrapped up in 2017 with $360 million.
The…
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