Aterian Investment Management, a firm launched by executives from Sun Capital Partners and Insight Equity, has closed Aterian Investment Partners II on $256.8 million. The fund reached its hard cap in about 16 weeks.
Aterian Investment Management, LP (“Aterian”), a New York based operationally-focused middle market private equity firm, is pleased to announce the closing of Aterian Investment Partners II, LP (“Fund II” or “the Fund”) with $256.8 million of capital commitments. Fund II reached its hard-cap in approximately sixteen weeks.
The Aterian team commented, “We are incredibly grateful for the tremendous support provided to us by the limited partner community. Our investors comprise leading domestic endowments, foundations, family offices, fund of funds, insurance companies and other institutional capital bases. We consider ourselves fortunate to have the opportunity to benefit from these institutions’ counsel and involvement with Aterian as we deploy Fund II. We are excited to work on behalf of our expanded investor base while also continuing to strengthen Aterian’s established reputation as a creative solutions provider to the middle market distressed, underperformer and special situations marketplace.”
Aterian is forming the Fund to continue the team’s well-established strategy of investing in underperforming middle market companies and building active, hands-on partnerships with management teams to create significant long-term value for stakeholders. The Fund will generally focus on investing in turnarounds, distressed situations, restructurings, carve-outs, underperformers or other complex investment situations in middle market companies generating $25 million to $500 million of revenue.
UBS Securities LLC acted as the exclusive placement agent for the Fund.