Founded by former Gores Group executives, Angeles will target mid-market industrial deals, sister website peHUB reported. Angeles has tapped Moelis & Co as well as GCA Savvian to serve as placement agents, one of the persons said. Munger, Tolles & Olson is the law firm on the fundraising.
Last May, Jordan Katz and Tim Meyer left Gores Group, where they were both managing directors. The executives recently founded Angeles Equity, which is based in Los Angeles.
Fortune reported news of the Angeles fundraising previously.
Moelis, GCA, Angeles and Munger did not respond to requests for comment.
Luisa Beltran is a senior writer for peHUB.