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Alta Growth Capital to beat $150m target for second fund

17 Dec 2013

mexico_flag_170sqMexican mid-market firm Alta Growth Capital is reportedly on track to beat the $150m target for its second fund.

The new was reported by Dow Jones, which cited a person with knowledge of the firm’s plans. The report noted that the Mexican private equity market is expected to show significant growth over the next few years after annual fundraising jumped six times and the number of GPs doubled to 71 between 2008 and 2012, according to Bain & Co.

If Fund II exceeds its target, it will be more than twice the size of Alta’s first vehicle, which raised $75m in 2009.

Alta invests $10m to $20m in businesses with revenues of between $10m and $100m.

The firm currently has five portfolio businesses including healthcare services company Medicus and parking lot operator Operadora Central de Estacionamientos.

Earlier this year, LAVCA research director Juan Savino told AltAssets that Latin American fund managers received more commitments from local LPs in the first half of 2013 after pension funds were given permission to invest in the asset class.

He said that fundraising activity would stay strong as firms that raised funds of over $1bn in 2010 and 2011 were expected to be back on the fundraising trail next year.

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