About This Fund
Warren Equity Partners Fund IV, L.P. (WEP IV) is the fourth flagship middle-market buyout fund raised by Warren Equity Partners, a Jacksonville, Florida-based private equity firm specializing in companies that maintain, operate, and upgrade infrastructure across North America. WEP IV held its final close in April 2023 at over $1.4 billion, exceeding its $1.2 billion target and closing on its hard cap — drawing commitments from pension funds, insurance companies, endowments, foundations, fund of funds, and family offices. Kirkland & Ellis LLP served as legal counsel; Aqueduct Capital Group acted as placement agent.
The fund pursues buyouts and recapitalizations of established North American businesses across five infrastructure-adjacent verticals: transportation, power and utilities, digital infrastructure, water and wastewater, and waste management and environmental services. Warren Equity Partners combines deep sector expertise with hands-on operational value creation, acquiring industrial services, products, business services, and distribution companies in the middle market. At final close, WEP IV had already acquired four platform companies: Code Red Safety, kV Power, Traffic Management Solutions, and Ovation Holdings.
Warren Equity Partners has built a differentiated track record as a specialist in infrastructure-adjacent middle-market buyouts. The predecessor vehicle, Fund III, closed at $673 million in May 2021 and was also oversubscribed. Across all funds at the time of WEP IV's close, the firm had raised over $3.3 billion in aggregate commitments and completed 99 transactions including 26 platform acquisitions and numerous add-ons. Texas Municipal Retirement System committed $100 million to Fund IV, validating the firm's institutional-quality track record. The firm subsequently raised a dedicated Small Cap Fund at over $550 million in April 2024, confirming WEP IV as the mid-market flagship.