Altas Partners closed its third PE fund, Altas Partners Holdings III, on $4 billion, with backing from some of North America’s largest institutional investors.
The fund attracted commitments from LPs including Alaska Permanent Fund, which allocated $40 million and $50 million to its predecessor, and the San Mateo County Employees’ Retirement Association, which committed $25 million in 2022.
The new fund is a third larger than its $3 billion predecessor and will continue Altas’ strategy of targeting five to seven businesses to own and grow, as well as continuing its focus on the healthcare, business services and specialized industrial sectors. Altas executes one or two deals a year at anywhere from $400 million to $1 billion each, and while its holding periods tend to follow PE’s typical five to seven years, its fund structure allows for an extension when necessary, PitchBook reports. Read more.
