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FUNDRAISING NEWS | January 28, 2025
Tags: Private Equity, Fundraising
Los Angeles-based, consumer sector private equity firm Meaningful Partners said its AUM increased to $500M after it closed its sophomore fund below target but with more than $150M of capital commitments.
Meaningful Partners Dedicated Capital Vehicle II secured support from existing and new investors of the firm, including endowments, foundations, consultants, fund of funds and family offices. Buchalter served as legal counsel to the fund.
According to an amended filing with the SEC dated January 13, the fund made its first sale on April 13, 2023, with the minimum investment set at $150K. As of the filing date, it had raised $151.9M from 34 investors against a target of $235M.
In line with Meaning Partners' strategy, the fund will deploy its capital to improve the operating capabilities of its partner consumer companies. It targets lower-middle-market and growth companies in the consumer sector, allocating $15M to $100M for every equity investment. The firm's portfolio includes Westrock Coffee, Active Apparel Group, &pizza, Allies of Skin, and Closer.
Written By: Dakota
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