Align Capital Closes $1.1B Across Flagship, Collaborate Funds
Align Capital Partners has closed two investment vehicles totaling more than $1.1 billion in commitments, underscoring continued investor appetite for lower middle-market private equity and independent sponsor-backed transactions.
The firm announced the final closes of Align Capital Partners Fund IV, LP and Align Collaborate Fund II, LP, raising $770 million and $375 million, respectively. Fundraising began in April and concluded on June 15.
The new funds mark another milestone for the Cleveland- and Dallas-based private equity firm, which has raised approximately $3.2 billion in committed capital since its founding in 2016. Align said its investment team is collectively the largest investor in both ACP IV and Collaborate II, aligning the firm’s interests closely with its limited partners.
“We continue to target high-quality platforms and drive value creation through investing in impactful growth resources and employing an active add-on acquisition strategy across the portfolio,” said Chris Jones, co-founder and managing partner of Align Capital Partners.
Align launched its Collaborate strategy in late 2023 to complement its flagship private equity funds and support lower middle-market companies alongside independent sponsors. The inaugural Collaborate Fund I raised $233 million and has co-invested in seven platform companies with seven different sponsors to date.
The firm’s flagship funds have steadily increased in size over the past decade, beginning with a $325 million Fund I in 2016, followed by a $450 million Fund II in 2020 and a $620 million Fund III in 2022.
Kirkland & Ellis LLP served as fund formation counsel for both strategies.