Fundamental wraps up third PE fund at $993 mln

Fundamental Advisors LP has closed its third private equity fund at $993 million. The fund will focus on critical community assets such as affordable and student housing, senior care, infrastructure, alternative energy and hospitality. PPB Capital Partners assisted Fundamental on the fundraising.



PPB Capital Partners (“PPB”) congratulates Fundamental Advisors LP (“Fundamental”) on closing its third private equity fund, Fundamental Partners III LP (“Fund III”), with $993 million in aggregate capital commitments. Fundamental, a leading alternative asset manager focused on special situations in municipal market and public purpose assets, will invest Fund III in assets that are critical to the community, including affordable and student housing, senior care, infrastructure, alternative energy and hospitality.

“We were proud to partner with Fundamental during this fundraise. Fundamental has a compelling control-oriented investment strategy, as well as a proven record of delivering consistent returns over the past decade,” said Brendan Lake, Founder and CEO of PPB Capital Partners. “We are thrilled to be able to provide high net worth investors with direct access to institutional asset managers like Fundamental. “

“PPB delivers a cost-efficient solution for accessing alternative investments that reduces the operational burden for our investors and our business,” said Rich Beecher, Director of Investor Relations at Fundamental. “We are pleased that our partnership with PPB has enabled Fundamental to expand its network amongst high net worth investors, an increasingly relevant investor segment.”

About PPB Capital Partners
PPB Capital Partners provides direct access to a platform of institutional alternative asset managers, as well as creates and operates feeder funds and customized fund of funds for wealth managers. As a fiduciary, PPB Capital Partners saves wealth managers’ time, money, and the pain points often associated with investing in private alternative investments. PPB accomplishes this value proposition by providing operational expertise, custodial approvals, lower investment minimums, economies of scale, and independent due diligence reports from Castle Hall Alternatives. For fund managers, PPB provides an efficient process to introduce new high net worth investors to their fund by outsourcing the typical operational challenges that smaller investments can cause.

PPB Capital Partners has surpassed $900 million of total capital invested since its inception. PPB has a network of over 400 wealth management groups and has served over 60 RIAs, family offices, trust companies and bank wealth groups nationwide. For more information, please visit

About Fundamental Advisors
Fundamental Advisors is a leading alternative asset manager dedicated to the municipal markets. Founded in 2007, the firm is focused on targeting control oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose assets, or acquiring undervalued securities in the secondary market. Fundamental invests through a range of vehicles that capitalize on the growing opportunity set in the municipal market. For more information, please visit