Altas Partners has closed its third fund, Altas Partners Holdings III LP, on target with $4 billion of capital commitments.
Altas makes equity investments of $400 million to $1 billion and typically owns its portfolio companies over a longer term than other private equity firms. Altas expects Fund III to invest in 5 to 7 businesses.
Limited partners in Fund III include large family offices, insurance companies, pension funds, endowments, and foundations.
“We are very grateful to our investors for their partnership and confidence in Altas and our team,” said Andrew Sheiner, CEO of Altas Partners. “Our firm employs a particularly discerning approach to private equity investing, looking for only 1 or 2 new opportunities each year that fit our framework and where we have high conviction. We focus on acquiring wonderful businesses with meaningful growth potential and engaging closely with our management teams as a valued partner. Since inception in 2012, we’ve acquired ten market-leading businesses, and are poised to complete our eleventh investment in a few months, our first in more than two years, consistent with our selective approach.”
Altas’ earlier fund closed in 2019 with $3 billion of capital and its inaugural fund closed in 2016 with $1 billion in capital.
“We are fortunate to have earned the support and trust of an exceptional group of global investors,” said Aryella Frommer, a partner at Altas. “We look forward to building upon our strong foundation in the years ahead, as we continue to serve as careful stewards of our investors’ capital, and as a collaborative partner to our management teams.”
Altas was founded in 2012 by Mr. Sheiner and is headquartered in Toronto with an additional office in New York City.
© 2023 Private Equity Professional | July 11, 2023
