Altera announced that it has held closings on three separate investment strategies totaling $136.5 million in capital commitments. The alternative asset manager focuses on the lower market and invests across multiple asset classes.
The closings included $92.5 million for Altera’s flagship Small Business Investment Company strategy. The firm also closed $27.5 million for a private equity secondary strategy and $16.5 million for a senior credit strategy.
The funds were backed by a broad base of new and existing limited partners. Investors included single-family offices, wealth managers, and entrepreneurs.
Altera’s ownership group made a substantial $40 million commitment across the three investment vehicles alongside investors. The firm said each fund is already substantially invested in underlying holdings.
The strategies are designed to provide investors with exposure to private market opportunities that can be difficult to access. Altera said its investment program is centered on lower-market inefficiencies and niche opportunities with structural benefits.
Since its founding, Altera has reviewed thousands of private deals and partnered with nearly 900 investors. The firm has also executed more than 50 investments.
Altera said it plans to invest more than $5 billion across SBICs, GP stakes, independent sponsor transactions, co-investments, and tactical opportunities. The firm works with ultra-high-net-worth individuals, family offices, and independent wealth management firms seeking access to lower-market private investments.
KEY QUOTES:
“We intentionally built Altera to be a flexible and aligned private investment firm that can invest in various asset classes, up and down the capital stack. As broader private markets continue to evolve and become more efficient, we believe our lower market focus and unique investment capabilities are an advantage.”
David Fershteyn, Founder and Managing Partner of Altera
“Since its founding, Altera has seen thousands of private deals, partnered with nearly 900 investors, and executed over 50 different investments. In an ever-changing world, we continue to double down on niche, and sometimes complex, opportunities with structural benefits. A perfect representation of our investment program is our thesis around SBICs.”
Carlos Alcala, CFO of Altera
