Key Takeaways
- • Align Capital Partners closed two funds simultaneously at hard cap on June 15, 2026, raising $1.1 billion combined: Fund IV LP ($770 million) and Collaborate Fund II LP ($375 million), bringing total firm AUM to approximately $3.2 billion since founding in 2016.
- • Fund IV represents Align's fourth flagship private equity vehicle, continuing a consistent growth trajectory ($325M in 2016, $450M in 2020, $620M in 2022), while Collaborate Fund II expands the firm's independent-sponsor co-investment strategy launched in late 2023.
- • Align's investment team maintains the largest investor position in both funds, aligning management incentives with limited partners, and the firm has deployed capital across 40 platform companies with 145 completed add-on acquisitions and 13 exits since inception.
- • Collaborate Fund II targets North American lower-middle-market companies with EBITDA of $2M–$15M and enterprise values of $15M–$150M, investing $10M–$40M per deal alongside independent sponsors on a deal-by-deal basis.
- • Co-founder Chris Jones emphasized the firm's consistent strategy focused on the lower-middle market, active add-on acquisition execution (averaging more than 3 add-ons per platform), and impactful growth resource investments for value creation.
Summary
Align Capital Partners has successfully closed its fourth flagship private equity fund and second independent-sponsor-focused fund concurrently, reaching hard caps and raising a combined $1.1 billion in committed capital. Align Capital Partners Fund IV LP closed with $770 million in commitments, while Align Collaborate Fund II LP closed with $375 million. Both funds reached their final close on June 15, 2026, following fundraising efforts that began in April 2026.
The dual closings represent significant momentum for the firm as it approaches its ten-year milestone since founding in 2016. Align's fund progression demonstrates disciplined scaling: Fund I raised $325 million in September 2016, Fund II raised $450 million in February 2020, and Fund III closed at $620 million in 2022. Including the newly closed funds, Align has now accumulated approximately $3.2 billion in total committed capital. The firm's investment team maintains the largest investor position in both Fund IV and Collaborate Fund II, ensuring alignment between management and limited partners.
Align Collaborate Fund II, launched to complement the flagship strategy, operates as a co-investment vehicle alongside independent sponsors. The fund invests between $10 million and $40 million per transaction in North American-based companies with EBITDA ranging from $2 million to $15 million and enterprise values between $15 million and $150 million. This strategy, which launched in late 2023, allows Align to participate in independent-sponsor-led transactions across the lower-middle market.
Since inception, Align has invested in 40 platform companies and completed 145 add-on acquisitions, averaging more than 3 acquisitions per platform company. The firm has exited 13 investments to date. According to Chris Jones, co-founder and managing partner, the firm's lower-middle-market focus remains consistent, with emphasis on identifying high-quality platforms and driving value creation through active add-on acquisition strategies and targeted growth investments.
The dual closings represent significant momentum for the firm as it approaches its ten-year milestone since founding in 2016. Align's fund progression demonstrates disciplined scaling: Fund I raised $325 million in September 2016, Fund II raised $450 million in February 2020, and Fund III closed at $620 million in 2022. Including the newly closed funds, Align has now accumulated approximately $3.2 billion in total committed capital. The firm's investment team maintains the largest investor position in both Fund IV and Collaborate Fund II, ensuring alignment between management and limited partners.
Align Collaborate Fund II, launched to complement the flagship strategy, operates as a co-investment vehicle alongside independent sponsors. The fund invests between $10 million and $40 million per transaction in North American-based companies with EBITDA ranging from $2 million to $15 million and enterprise values between $15 million and $150 million. This strategy, which launched in late 2023, allows Align to participate in independent-sponsor-led transactions across the lower-middle market.
Since inception, Align has invested in 40 platform companies and completed 145 add-on acquisitions, averaging more than 3 acquisitions per platform company. The firm has exited 13 investments to date. According to Chris Jones, co-founder and managing partner, the firm's lower-middle-market focus remains consistent, with emphasis on identifying high-quality platforms and driving value creation through active add-on acquisition strategies and targeted growth investments.
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