Enlightenment Capital seeks $125 mln for Fund II


A child drops coins into golden Buddha statues as a symbol of blessings on Vesak Day at the Thai Buddhist Chetawan Temple in Petaling Jaya, near Kuala Lumpur May 13, 2014. REUTERS/Samsul Said

A little more than a year after closing its debut fund, Enlightenment Capital is in the market with its second pool, according to a source and an SEC filing.

Enlightenment is seeking $125 million for its second fund, the filing said. It’s unclear what the hard cap is for Enlightenment Capital Solutions Fund II LP.

Fusion Partners is the placement agent, the filing said.

The firm completed fundraising for its debut pool, which raised $80 million, in February 2014. Performance data for Fund I was unavailable.

With offices in Chevy Chase, Md., and Arlington, Va., Enlightenment focuses on aerospace, defense and government services. A flexible investor, the PE firm will provide senior debt, mezzanine debt and minority equity. Investments will range from $5 million to $25 million per deal, a source says.

Managing Partners Devin Talbott and Pierre Chao founded Enlightenment Capital in 2012. Talbott is a former VP of D.E. Shaw’s direct capital strategy’s group, where he helped build out the firm’s defense and government investments. Chao was managing partner of Renaissance Strategic Advisors, a consulting firm that focuses on aerospace and defense. Chao is also a former aerospace and defense equity analyst for Smith Barney, Morgan Stanley Dean Witter and Credit Suisse First Boston, the firm’s website said.

The firm has been described by some as “a young Carlyle,” because it is politically connected and  Gen. James Cartwright, a former Vice Chairman of the Joint Chiefs of Staff, sits on its advisory board.

Enlightenment has done 13 deals, including eight platforms and five add-ons. Security firm Vistronix, Enlightenment’s first investment in December 2012, has done six acquisitions, including three in December.

Executives for Enlightenment declined comment.

Photo courtesy of Shutterstock

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