Spending the last 12 months talking to investors about the independent sponsor space has been eye opening!! Institutional investors are all over the board on the space! Some investors are on the…

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Spending the last 12 months talking to investors about the independent sponsor space has been eye opening!! Institutional investors are all over the board on the space! Some investors are on the leading edge, they have done the leg work and believe the independent sponsor space is the next place you can capture alpha and what emerging managers were 10 years ago. Other investors, have barely heard of it and need a 101 in why someone would try to do a deal without a fund and why a business owner would ever sell to them. We are incredibly appreciative of the investors who dug in alongside us to support us as one of the early funds dedicated to the sector! We are big believers that there are multiple ways to win in the lower middle market and are excited to support talented independent sponsors on their high conviction opportunities. If we can help you on a great opportunity, please reach out to Michael Kornman, Grant Kornman, Kurt Smentek or myself.

Align Capital Partners

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Align Capital Partners is pleased to announce the closing of its inaugural independent sponsor focused investment fund, Align Collaborate Fund I, LP (“Collaborate I” or “Align Collaborate”). The strategy, which launched in late 2023, provides equity capital to the industry’s growing number of deal-by-deal investors. Collaborate I had its final close on March 26, 2025 at $233 million, well above its $150 million target. “We are excited to have officially closed on our first fund exclusively dedicated to supporting sponsors that raise capital deal-by-deal. We believe our approach to this rapidly growing segment of private equity is truly distinctive,” said Michael Kornman. “We created the equity solution that we ourselves sought, but could not find as independent sponsors, and the market response in our inaugural year has been humbling,” said Grant Kornman. We are truly grateful for the investor support and appreciate the hard work of Capstone Partners | A Mizuho Company (placement agent) and Kirkland & Ellis (legal counsel). Read the full press release linked in the comments below.