uombia-based Altra is looking to raise $300 million with the pool, according to sources and a regulatory filing dated Aug. 20. Altra Private Equity Fund II LP has raised about $165 million from 15 investors, the filing says.
Stanwich Advisors is the placement agent, the filing says.
Founded in 2005, Altra targets midcap companies in the Andean region, mainly
Columbia Colombia and Peru, according to the firm’s web site. The PE firm typically invests $20 million to $50 million per deal in companies with $15 million to $100 million in revenue. Last year, Altra invested in Credi-Q, an auto financing company with operations in El Salvador, Costa Rica and Hondura. Altra and The Rohatyn Group, in 2011, sold their controlling stake in Infarmasa, a generic pharmaceutical maker based in Peru.
The current pool is actually Altra’s third fund, a placement source says. Altra’s first fund raised $80 million in 2005, while their second collected $105 million in 2009, the source says. The first fund is posting a net IRR of 22%, the person says.
Officials for Altra couldn’t be reached for comment.
CORRECTION: The name of Colombia was misspelled in the prior version and has been corrected.
Photo of Peruvian Andes courtesy of Shutterstock