Alterna Capital beats target with $722m Fund II final close


plane_lrgEnergy and transport-focused buyout house Alterna Capital Partners has easily beaten its target for its second fund by holding a $722m final close.

Alterna was initially hoping to raise $600m for Core Capital Assets Fund II, which targets long-lived physical assets or resources relating to the transportation, industrial and energy sectors.

Last year a source with knowledge of the fundraise told AltAssets that Alterna expected to smash its $600m target and close on its $750m hard cap.

The amount raised by the fund has eclipsed the $428m secured by the fund’s previous vehicle, which was closed in 2009.

Atlantic Pacific acted as a placement agent for the latest fund, which registered its first commitment in December 2012.

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