Altas Partners LP has announced the final closing of its third fund, Altas Partners Holdings III (Fund III) (a family of Fund III funds), with US $4 billion of total capital commitments.
The 2021-vintage fund held a US $3.33 initial close in October 2022.
Fund III closed at its $4 billion target and is one third larger than Altas’ $3 billion predecessor fund. Altas Partners has raised US $8 billion cross three funds.
Fund III will provide the Altas team with capital to continue to pursue its distinctive and patient strategy in the coming years, targeting 5-7 businesses that the team is excited to own and build.
Fund III is led by GPs, Andrew J. Sheiner, Scott Werry, Christopher McElhone, and Paul Nicoletti.
PJT Partners LP acted as placement agent for Fund III.
photo credit: Atlas
Altas Partners Closes US$4 Billion Fund
July 05, 2023 08:00 AM Eastern Daylight Time
TORONTO & NEW YORK–(BUSINESS WIRE)–Altas Partners (“Altas”) announced today the final closing of its third fund, Altas Partners Holdings III (Fund III), with US$4 billion of capital commitments.
“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.”
Fund III closed at its $4 billion target and is one third larger than Altas’ $3 billion predecessor fund. The Fund will provide the Altas team with capital to continue to pursue its distinctive and patient strategy in the coming years, targeting 5-7 businesses that the team is excited to own and build.
“We are fortunate to have earned the support and trust of an exceptional group of global investors,” added Aryella Frommer, 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.”
About Altas Partners
Altas Partners is a North American private equity firm focused on selectively acquiring significant interests in high-quality and market-leading businesses with meaningful growth potential. Altas concentrates on specific sectors where it has deep expertise, seeking one or two compelling investment opportunities each year. The Firm’s patient investment philosophy, engaged approach to ownership, and flexible time horizon distinguish Altas as a buyer of choice for many management teams and business owners. The Firm was founded in 2012 and operates from offices in Toronto and New York. Altas manages more than $10 billion on behalf of leading institutional and family office investors from around the world.
For more information, please visit www.altas.com.