Altas Partners closes debut long-term fund on $1 bln

Altas Partners LP completed a US$1 billion fundraise, the firm announced. The fund, Altas Partners Holdings LP, was oversubscribed and closed at its hard cap.

Established in 2012 and based in Toronto, Altas pursues a long-term strategy that involves investing in only one or two businesses each year. This approach allows the firm to own each business for more than 10 years. Its portfolio includes Capital Vision Services, NSC Minerals and St. George’s University (SGU).

Founder Andrew Sheiner, who previously worked at Onex Corp for 17 years, said the new 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.

Update: PE Hub Canada profiled Altas and its investment in Grenada-based SGU in August 2014. The deal was done in partnership with OPTrust Private Markets Group.

Correction: A prior version of this report incorrectly referred to Altas as Atlas. The article has been updated.

Photo of Andrew Sheiner courtesy of Altas Partners