Altus Capital Partners II, L.P. has final closing of $200 million, exceeding its initial target of $160 million
Continues successful focus on middle market, U.S.-based manufacturers
Westport, CT, October 13, 2011 – Altus Capital Partners, Inc., a private equity firm focused on U.S.-based manufacturing businesses with proprietary technologies and highly engineered products, today announced the final closing of Altus Capital Partners II, L.P. (“Fund II”). The new fund closed yesterday on $200 million in commitments, exceeding its initial target of $160 million.
Russell J. Greenberg, Managing Partner, attributed the successful fund raising to strong support from existing investors and demand from new investors, including large U.S. pension funds, fund of funds and other institutions. “We are very pleased to have increased commitments from our existing investors as well as secured several new high quality institutional investors,” he said. “We look forward to working with all of our limited partners as we continue our focused investment strategy.”
Altus Capital’s first fund was launched in 2004, made eight investments and has had four successful exits to date, including one IPO and two sales to strategic buyers.
Mr. Greenberg co-founded the firm in September 2003 with Gregory L. Greenberg, Senior Partner, and Elizabeth A. Burgess, Senior Partner.
Fund II will seek to make 10 to 12 platform investments during its investment period, with its first investment likely occurring by the end of the fourth quarter. The firm will continue to invest in corporate divestitures, management-led buyouts and privately held or family-owned businesses with manufacturing operations based primarily in the Midwest and Eastern regions of the United States.
Mercury Capital Advisors and Sparring Partners served as placement agents to Fund II.
About Altus Capital Partners
Altus Capital Partners, Inc. combines strict investment criteria along with operational expertise when evaluating manufacturing businesses in the lower middle market. The firm’s approach, which has been refined over the past fifteen years, has been successful by working closely with operating management to build overall shareholder value. The firm has offices in Westport, Connecticut and Lincolnshire, Illinois.
For more information, please go to www.altuscapitalpartners.com.
212-537-5177, Ext 7