Angeles Equity Partners Finds $360M For First Private Equity Fund

Los Angeles-based Angeles Equity Partners, a new private equity investor, said this morning that it has raised $360M in its first private equity fund. The fund, Angeles Equity Partners I, L.P., came from institutional investors, public and private pension plans, endowments, foundations, a sovereign wealth fund, and alternative asset managers, according to the new fund. The new fund was founded by Timothy Meyer and Jordan Katz. The fund says it has made two investments so far, in ERP Power, the Moorpark-based manufacturer of power supplies and power electronics for the LED lighting market, and Applied Acoustics International, an automotive supplier focused on noise, vibration, and harshness products. Angeles Equity said it is looking to make investments in closely held or family-owned businesses, in non-core subsidiaries of larger companies, and "build and buy" opportunities with proven executives.