Emerald Lake Capital Management
Emerald Lake Capital Management is a Los Angeles-based private equity firm founded in 2018 that manages approximately $2 billion of committed capital, making control investments in founder-owned industrial and services companies across North America alongside experienced operating executives.
- Company typePrivate
- Founded2018
- HeadquartersLos Angeles, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Emerald Lake Capital Management does
Emerald Lake Capital Management is a Los Angeles-based private equity firm founded in 2018 that manages approximately $2 billion of committed equity capital across multiple funds. The firm pursues control investments in founder-owned industrial and services businesses in North America, typically partnering with experienced operating executives to identify proprietary deal opportunities and build platform companies through add-on acquisitions. Its portfolio spans eco-friendly packaging (Inno-Pak, exited February 2025), defense electronics (Pacific Defense/Spectranetix), electrical distribution (Electrical Source Holdings), homebuilding (City Ventures), power distribution (Mission Critical Group), and salt products (US Salt, exited February 2026 at $907.5M EV to ContextLogic).
The firm closed its most recent fund, Emerald Lake Capital Partners, at $825 million in April 2026, materially exceeding both its $500 million target and $750 million hard cap. The fundraise was led by placement agent PJT Park Hill and drew $800 million from unaffiliated limited partners (pension funds, endowments, and family offices) plus approximately $25 million from the general partner, evidencing strong LP appetite and GP alignment. Since founding, Emerald Lake has completed ten platform investments and four realizations.
Revenue is generated through the standard private equity model: management fees on committed or invested capital (typically 1-2%) plus carried interest (typically 20%) on profits above a hurdle rate. Emerald Lake does not publicly disclose pricing or financial terms, and revenue figures are not publicly available. The firm employs a lean team led by Managing Partner Dan Lukas and Partner Russell Hammond, with operations supported by a small bench of investment professionals that was expanded through promotions and a new hire in March 2026.
Emerald Lake Capital Management firmographics
Firmographics- Name
- Emerald Lake Capital Management
- Legal name
- Emerald Lake Capital Management
- Website
- https://emeraldlakecapital.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Emerald Lake Capital Management is a Los Angeles-based private equity firm founded in 2018 that manages approximately $2 billion of committed capital, making control investments in founder-owned industrial and services companies across North America alongside experienced operating executives.
- Ownership category
- akta.pro rank
Emerald Lake Capital Management industry classification
Industry- Product category
- Private Equity Management
- NAICS
- Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Large-Cap / Mega-Fund Buyout (FSANABAA)
Keywords
Where Emerald Lake Capital Management is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Markets served
Emerald Lake Capital Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Private Equity Fund Management: Manages private equity funds for institutional investors, generating revenue through management fees (typically 1-2% on committed capital) and carried interest (20% of profits above hurdle rate). Recent fund of $825 million brings total committed capital to approximately $2 billion since 2018 founding.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Emerald Lake Capital Management product offering
Product offeringCore offering
Emerald Lake Capital Management is a private equity firm that raises and manages institutional capital through the Emerald Lake Capital Partners fund. It makes control-oriented buyout investments in founder-owned industrial and services companies across North America, partnering with experienced executives and providing operational support, M&A capabilities, and growth capital to portfolio companies. The latest fund closed at $825 million in April 2026, bringing total committed capital to approximately $2 billion since the firm's 2018 founding.
Differentiator
Problem solved
Functional benefit
Products and services
- Emerald Lake Capital Partners Fund A private equity fund making control-oriented investments in founder-owned industrial and services companies across North America. The latest fund closed at $825 million in April 2026, surpassing its $500 million target and $750 million hard cap. The fund is offered to institutional limited partners including pension funds, endowments, and family offices.
- Platform Investments (Portfolio Companies) Capital deployed and active management provided to portfolio companies including Inno-Pak (eco-friendly packaging), Pacific Defense (defense electronics), Electrical Source Holdings (electrical distribution), City Ventures (construction/homebuilding), Mission Critical Group (power distribution), Spectranetix (defense/aerospace communications), and US Salt (evaporated salt products). Emerald Lake partners with management teams to provide growth capital, operational support, M&A execution, and executive talent sourcing.
Quantifiable outcome
- Business growth over 50% in first 10 months of partnership
- +1 more outcomes
Companies that use Emerald Lake Capital Management
Customer profileNamed customers7 records
Segments1 record
Ideal customer profiles2 records
Emerald Lake Capital Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Emerald Lake Capital Management partnerships and signals
Strategic signalScale indicators6 records
Recent moves5 records
Expansion highlights5 records
Emerald Lake Capital Management competitors and assessment
Company assessmentDirect peers
- Palladium Equity Partners: Middle-market PE firm making control investments in industrial and services businesses, often with founder and management partnerships. Comparable AUM scale and sector overlap with Emerald Lake.
- Wynnchurch Capital: Middle-market PE firm focused on industrial and services companies, often partnering with management. Directly comparable to Emerald Lake's lower middle-market, operationally-focused buyout strategy; Wynnchurch's Handgards acquired Emerald Lake's Inno-Pak, evidencing direct competitive overlap.
- Audax Group: Middle-market PE firm pursuing control investments in founder-owned industrial and services businesses with a buy-and-build model. Closely matches Emerald Lake's thesis of partnering with management for add-on M&A and operational improvement.
- H.I.G. Capital: Global alternative investment firm with a deep middle-market buyout franchise focused on industrial and services companies. Comparable in size, sector focus, and control-oriented approach to founder-owned businesses.
- Comvest Partners: Middle-market PE firm investing in control and structured equity in founder-led industrial and services companies. Direct peer given comparable fund size range and operationally intensive value-creation playbook.
- Centerbridge Partners: Multi-strategy alternative investment firm with a meaningful middle-market private equity practice in industrial and services companies. Comparable control-oriented, operationally engaged approach to founder-owned businesses.
- Stone Point Capital: PE firm focused on founder-led, operationally intensive businesses with a sector-driven approach. Comparable in emphasis on management partnerships and value creation in lower middle-market industrial and services companies.
- New Mountain Capital: Middle-market PE firm investing in defensive growth-oriented industrial and services companies. Comparable sector mix and founder/owner partnership orientation to Emerald Lake's portfolio.
- Aterian Investment Partners: Operationally focused middle-market PE firm investing in founder-owned industrial and consumer businesses. Directly comparable thesis of partnering with management to drive growth and add-on M&A.
Broad incumbents
- Madison Dearborn Partners: Larger, established PE firm with significant industrial and services portfolio. Overlaps with Emerald Lake on founder/owner-led control investments but operates at a meaningfully larger fund and platform scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Emerald Lake Capital Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Emerald Lake Capital Management leadership team
Management profileNumber of profiles
Profiles5 records
Emerald Lake Capital Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Emerald Lake Capital Management M&A and investment
M&A and investmentM&A2 records
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Emerald Lake Capital Management
What does Emerald Lake Capital Management do?
Emerald Lake Capital Management is a private equity firm that raises and manages institutional capital through the Emerald Lake Capital Partners fund. It makes control-oriented buyout investments in founder-owned industrial and services companies across North America, partnering with experienced executives and providing operational support, M&A capabilities, and growth capital to portfolio companies. The latest fund closed at $825 million in April 2026, bringing total committed capital to approximately $2 billion since the firm's 2018 founding.
Is Emerald Lake Capital Management a public or private company?
Emerald Lake Capital Management is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Emerald Lake Capital Management founded?
Emerald Lake Capital Management was founded in 2018. It employs 1 to 10 people.
Where is Emerald Lake Capital Management based?
Emerald Lake Capital Management is headquartered in Los Angeles, United States, in the North America region.
How does Emerald Lake Capital Management make money?
One revenue line is on record: private Equity Fund Management.
Who are Emerald Lake Capital Management's main competitors?
Direct peers on record are Palladium Equity Partners, Wynnchurch Capital, Audax Group, H.I.G. Capital, Comvest Partners, Centerbridge Partners, Stone Point Capital, New Mountain Capital and Aterian Investment Partners. Madison Dearborn Partners is listed as a broad incumbent.
Does Emerald Lake Capital Management have an API?
No public API is recorded for Emerald Lake Capital Management.
What industry is Emerald Lake Capital Management in?
Emerald Lake Capital Management's product category is Private Equity Management. Its primary akta.pro industry code is FSANABAA, Large-Cap / Mega-Fund Buyout. Its NAICS code is 52394 and its SIC code is 6282.