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Tyree & D'Angelo Partners

Tyree & D'Angelo Partners operates out of Chicago, executing a dedicated lower-middle-market buyout strategy. The firm targets profitable, founder-owned...

Tyree & D'Angelo Partners logo

Tyree & D'Angelo Partners

Tyree & D'Angelo Partners operates out of Chicago, executing a dedicated lower-middle-market buyout strategy. The firm targets profitable, founder-owned companies in fragmented industries, typically those in business services, healthcare services, and select enterprise software verticals. Its investment approach emphasizes control acquisitions and operational partnerships intended to professionalize and scale portfolio companies. Unlike generalist buyout funds, TDP tends to concentrate its efforts on a limited number of platforms where it can install operational leadership and pursue add-on acquisitions. The firm's investment parameters remain closely held, though public records and transaction databases indicate it seeks North American businesses with strong recurring revenue and durable customer bases. TDP structures its investments as traditional private equity buyouts, using committed fund capital to acquire majority stakes. The firm operates in the competitive but fragmented lower mid-market, vying with independent sponsors and smaller institutional funds for proprietary deal flow sourced through niche industry networks and intermediary relationships. The partnership maintains a lean operational footprint from its Chicago headquarters. The firm does not publicly report its assets under management or total capital deployed. It is structured as a traditional private equity partnership, drawing on the operational experience of its founders and any associated operating partners. TDP has publicly closed committed private equity funds, though the precise fund names and vintages are not broadly cataloged by major data providers. The firm's model eschews the multi-strategy platform in favor of a focused private equity vehicle. TDP's structural differentiator lies in its targeted concentration on a narrow band of the lower middle market. Where many competitors have scaled into large-cap buyouts or raised multi-billion-dollar funds, Tyree & D'Angelo Partners remains purpose-built for transactions where hands-on operational involvement can materially change a company's trajectory. This model ties the firm's success to the depth of its industry specialization rather than the breadth of its asset base.

General information

Firm type

Private Equity

Year founded

2013

AUM

$2.5B

Location

Region

North America

Country

United States

City

Chicago

Corporate office

Chicago, IL, United States

Sector focus

Enterprise SoftwareHealthcare ServicesBusiness Services

Frequently asked questions

What is the investment strategy at Tyree & D'Angelo Partners?

TDP executes a buy-and-build strategy in the lower middle market. The firm acquires control stakes in founder-owned businesses and scales them through add-on acquisitions — completing over 1,000 such partnerships across its portfolio. Its focus spans healthcare, business services, and consumer sectors.

How does TDP structure its partnerships with management teams?

TDP builds true partnerships with aligned economic incentives, offering existing founders and newly recruited executives equity participation in the platform. The firm maintains a dedicated executive partnership program, inviting operators to co-invest and take leadership roles in portfolio companies.

What is TDP's geographic focus?

TDP invests across the United States from its primary office in Chicago and maintains an additional office in Dallas. The firm pursues control investments nationally, targeting lower-middle-market businesses without a stated geographic concentration within the US.

Does TDP invest in minority or growth-stage deals?

TDP's primary model is control-ownership buyouts aimed at implementing a buy-and-build strategy. While its stated investment strategies include growth and early-stage categories, its publicly described focus and capital deployment center on control acquisitions of lower-middle-market businesses.

What size of companies does TDP target?

TDP targets lower-middle-market businesses. Its portfolio companies have collectively grown to over $5 billion in enterprise value through organic growth and more than 1,000 add-on acquisitions. The firm deploys capital from its $2.5 billion pool of committed capital, suggesting significant per-platform investment capacity within that segment.

How can a business owner or executive engage with TDP?

TDP provides dedicated channels for engagement: business owners considering a sale can reach sell@tdpfund.com, executives interested in partnership opportunities can contact executive@tdpfund.com, and potential investors should use invest@tdpfund.com.

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