Enlightenment nears cap on third aerospace, defense fund

  • Firm: Enlightenment Capital
  • Fund: Enlightenment Capital Solutions Fund III
  • Target: $200 mln
  • Hard Cap: $250 mln
  • Amount Raised: ~$250 mln
  • Placement Agent: Metric Point Capital

Enlightenment Capital, formed by an ex-member of the Council on Foreign Relations with top-secret security clearance, is nearing the $250 million cap on its third fund, a person with knowledge of the fundraising told Buyouts.

Fund III will invest in aerospace, defense and government services companies in the middle market.

The pool is expected to hold a final close soon, the person said. Metric Point Capital is placement agent.

Enlightenment was formed in 2012 by Devin Talbott, who is the principal owner of the business, according to Enlightenment’s Form ADV, and Pierre Chao, former senior executive at Renaissance Strategic Advisors, which consults on aerospace and defense. Chao is an operating partner at Enlightenment.

The firm had about $180 million under management as of Dec. 31, 2017, the Form ADV said.

The Chevy Chase, Maryland, firm invests in the middle market, targeting investments of $5 million to $25 million. Enlightenment seeks to partner with its investors and with management teams of the portfolio companies on its investments.

Talbott formerly helped build D.E. Shaw’s defense and government investing strategy. Previously, he worked at Cohen Group Financial Partners, founded by former Defense Secretary William Cohen, analyzing M&A and principal investing in the defense and government-services industry.

Earlier this year, Enlightenment invested in ByteCubed, which provides technology and consulting services to federal and commercial clients.

Talbott declined comment.

Action Item: Check out Enlightenment’s Form ADV here: https://bit.ly/2lpsAvJ