Altas Partners, a Canadian private equity firm founded by former Onex Corp Managing Director Andrew Sheiner, has raised US$1 billion for Altas Partners Holdings LP. The fund was closed at its hard-cap target and was oversubscribed, the firm reported. Investors in the fund were not disclosed. Based in Toronto, Altas was launched by Sheiner in 2012 to make equity investments of $100 million to $500 million over longer horizons than most private equity firms. It typically assumes control-stake positions in hard-to-replicate businesses. To date, the firm has acquired three companies: Capital Vision Services, NSC Minerals and St. George’s University (SGU). PE Hub Canada profiled Altas and its investment in Grenada-based SGU in August 2014.
Photo: Andrew Sheiner, managing partner, Altas Partners.
Altas Partners Completes US$1 Billion Fundraise
Highlights Strong Support for its Differentiated Approach to Private Equity Investing
TORONTO, May 2, 2016 – Altas Partners LP, a North American private equity firm, announced today that it has completed a US$1 billion fundraise for Altas Partners Holdings LP. The fund closed at its hard cap and was oversubscribed.
Altas was established in 2012 to pursue a differentiated approach to private equity investing. The firm seeks to invest in only one or two businesses each year, and has a longer-term outlook than many private equity firms. The firm’s partners believe that this orientation allows Altas to make strategic and capital decisions that support attractive growth in value over time, and that its flexible time horizon, with the ability to own each business for more than ten years, provides a meaningful benefit to its investors and is greatly valued by the CEOs and executives that lead Altas’ operating companies. Altas and its partners have made three acquisitions since the firm’s establishment: NSC Minerals, St. George’s University, and Capital Vision Services.
“We are very grateful for the support we have received from the outset of the fundraising process,” said Andrew Sheiner, who founded Altas following a 17-year career with Onex Corporation. “This capital will allow us to continue the process of building our portfolio carefully in the coming years, working with exceptional management teams and on behalf of like-minded investors.”
Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality, market-leading businesses in partnership with outstanding management teams. Key elements of Altas’ approach include prudent capital structures, active ownership through strategic and operational support and an emphasis on sustainable value creation. Altas strives to deliver outstanding investment returns for its partners. Altas is led by seasoned private equity professionals and experienced operating executives. For more information, please visit www.altaspartners.com.
Andrew Cole/Julie Rudnick
Sard Verbinnen & Co
Photo of Andrew Sheiner courtesy of Altas Partners