Newly-formed Palo Alto private equity firm Altamont Capital Partners has raised $500m for its debut fund to invest in mid-market businesses.
With $50m of the fund’s capital coming from Altamont Capital, the fund is to target companies across a variety of businesses seeking to develop into more complex operations, where the firm can partner with management to implement strategic and operational change.
The targeted investment range per deal is pegged at between $10m and $75m in equity, primarily for control positions.
Altamont co-founder Jesse Rogers said, “We are particularly drawn to companies that are constrained from realizing their full potential, and we have significant experience working with management teams to build success stories across a range of industries and transaction types.
“Our returns are driven much more by helping build and improve businesses than by financial engineering,” he added.
Altamont was formed by Rogers last year, in partnership with Randall Eason and Keoni Schwartz. The trio had worked together at Golden Gate Capital and business consultancy Bain & Company prior to Altamont’s inception.
Copyright © 2011 AltAssets