Arlington Capital Eyes Another Multibillion-Dollar Fund

Arlington Capital Partners has signaled plans to raise its seventh fund, which could exceed the size of any of its previous funds, The Washington Business Journal reported Friday.

Two years ago, Arlington Capital closed its sixth fund at $3.8 billion. In 2019, the investment firm secured $1.7 billion for its fifth fund.

In a filing with the Securities and Exchange Commission, the Washington D.C.-based private equity firm said the fund will be called Arlington Capital Partners VII. The firm has not yet disclosed its target amount for the seventh fund.

In an interview with the publication last fall, Michael Lustbader, managing partner at Arlington Capital and a 2025 Wash100 awardee, said the firm’s leadership team planned “to be growing with each successive fund.”

“Our ability to deploy capital and to continue to deploy that capital effectively and efficiently has increased with the passage of time,” Lustbader said. “So we’re putting out more capital with each passing year, because we have enough available opportunities to do so.”

What Does Arlington Capital Partners Do?

Arlington Capital invests in companies serving the federal government and highly regulated industries. Its main focus areas are defense, aerospace, government services, technology and healthcare.

Established in 1999, the private equity firm has invested over $4 billion across more than 175 deals and oversees more than $8 billion in total assets. Companies under its portfolio include Tyto Athene and Exostar.

In March, Arlington Capital launched GRVTY, its new platform company focused on providing defense technology systems to meet the national security priorities of the Department of Defense, the Intelligence Community and the Department of Homeland Security.

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