Altamont Capital Fund II climbs quickly with $750M target

Firm: Altamont Capital Partners

Fund: Altamont Capital Fund II

Target: $750M

Amount raised: N/A

Palo Alto, Calif.-based Altamont Capital is circulating a private placement memorandum, or PPM among prospective investors, a source said.

“They’re officially in the market,” said the person. “The first one went from a phone call to closing in three months, which for a new firm is pretty fast.”

The source said the reputation of the founders as rainmakers in private equity helped the firm stand out to limited partners, rather than any specific deal.

A call to Altamont Capital by Buyouts was not returned.

Altamont Capital traces is formation to 2010 by Jesse Rogers, Randall Eason and Keoni Schwartz.

The firm raised $500 million in its first fund, with about 10 percent coming from general partners and affiliates. The fund targeted investments of $10 million to $75 million, primarily for control positions.

Rogers co-founded and was co-principal managing director of Golden Gate Capital, according to the firm’s website. He was also long-time partner at Bain & Co, where he founded and served as the global head of Bain’s private equity group.

“Under his leadership, Bain’s PEG became the global leader in this business,” Altamont Capital said on its website.

Eason, managing director of Altamont Capital Partners, was a principal at Golden Gate Capital, where he worked as co-domain lead for the firm’s investments in the industrials sector, and carried out deals in the consumer products and technology sectors.  He also worked at Bain & Co.

Schwartz was a principal at Golden Gate Capital, where he served as domain lead for the firm’s investments in the financial services sector, and also worked on deals in the consumer products and technology arenas.

Altamont recently vied to offer a refinancing package to Australia surf brand Billabong International Ltd, but the retailer accepted a sweetened deal from Oaktree Capital Management and Centerbridge Partners in September. Earlier, Billabong said it had entered into a $470 million refinancing arrangement with Altamont Capital Partners and the Blackstone Group.  

In July, Altamont Capital said it paid an undisclosed sum to Atlantic Premium Brands for Blue Ribbon, a bacon and sausage brand, and Richard’s Cajun Foods. Altamont combined the two to form Tall Tree Foods Holdings Inc, a new holding company led by operating partner Tim Bruer, previously a CEO for Nonni’s Food Co and other specialty food players.