Orangewood Partners announced the successful close of Orangewood Fund II, L.P. with more than $200 million in equity commitments as well as approximately $100 million in equity across other vehicles. Orangewood has more than $500 million of total assets under management.
Founded in 2015, Orangewood focuses on special situation and growth-oriented private equity transactions in partnership with founder-led businesses, management teams and entrepreneurs primarily in the non-discretionary healthcare, consumer and multi-unit sectors. Orangewood’s senior investment team and deep bench of skilled operating partners, combined with its strategic capital and operational expertise, enable Orangewood to facilitate growth and execute operational improvements at each of its portfolio companies.
Alan Goldfarb, Founder and Managing Partner of Orangewood, commented: “We are grateful for the support we received for the Fund from our new and existing investor partners. We take pride in our ability to provide our portfolio companies and their management teams with the investment capital and long-term strategic and operational support that they need in order to distinguish themselves, scale and continue innovating. We believe these capabilities and our acute focus on relationship building make us a partner of choice to entrepreneurs, families, and management teams.”
The Fund’s strategy is consistent with Orangewood’s approach of investing in North American private and public companies with $5 million to $25 million+ of EBITDA through control and structured minority investments in its core sectors, which are largely uncorrelated to economic cycles. The Fund is being actively deployed and has two portfolio companies, Exer Urgent Care, an ER alternative staffed by ER doctors, and K2 Towers, a national acquirer of wireless communication towers.
The Fund’s investor base is comprised of a state pension plan, endowments, insurance companies, asset managers, fund-of-funds, high-net worth individuals and family offices, and other institutions.
To date, Orangewood has invested over $250 million across six companies. Other notable investments include: ABTB, one of the largest franchisees of Taco Bells; George Industries, a manufacturer of engineered components for the aerospace, defense and communication sectors; and Peaceable Street a specialty finance platform providing preferred equity to small and mid-sized owners of income producing commercial real estate.