Aterian Closes Third Fund

Aterian Investment Partners has held a first and final closing of Aterian Investment Partners III LP (Fund III) with $350 million of committed capital. Fundraising for the new fund began in May 2018.

Fund III received interest from both new and existing investors and the limited partner base is comprised of endowments, foundations, family offices, insurance companies, pension plans and fund-of-funds. Aterian’s earlier fund closed in December 2013 with $257 million of capital commitments. Since its founding in 2009, Aterian has now closed three private equity funds totaling more than $715 million of committed capital.

Aterian invests up to $50 million in small-to-middle market businesses with $25 million to $500 million in revenues that are underperforming, turnarounds or otherwise unique situations. The firm was founded by Brandon Bethea, Michael Fieldstone and Christopher Thomas and is based in New York (www.aterianpartners.com).

“We are incredibly grateful for the continued confidence from our existing investors and look forward to expanding those relationships,” said Messrs. Bethea, Fieldstone and Thomas in a released statement. “We also welcome our new investors who each bring a unique perspective to Aterian. We are thrilled to establish relationships with them through Aterian III. Furthermore, we appreciate the support of our previous and current management teams as well as our investment banking, lending and advisor relationships. We have grown the team considerably and will continue to drive value in the existing portfolio, invest in new opportunities and create value on behalf of all of our investors.”

UBS Securities was the placement agent for this fundraise and Kirkland & Ellis provided legal services.

© 2018 Private Equity Professional | July 20, 2018

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