ATLANTA–(BUSINESS WIRE)–Altera1, an Atlanta-based investment firm focused exclusively on the lower middle private markets, today announced the completion of a growth capital round. This investment provides Altera with balance sheet capital to further enhance its firmwide capabilities and growth initiatives.
David Fershteyn, co-founder and CEO of Altera said, “We are pleased to close this strategic growth round and look forward to continuing to provide high net worth investors differentiated sources of return through our private market investment strategies.”
Since its founding in 2018, Altera has sponsored over 40 investment vehicles across private equity, real assets, and private credit. The company’s leadership expects to have $325M of capital committed to its private investment strategies by year’s end 2022 including $75M of capital from Altera’s owners. The firm’s trajectory seems on-trend to meet market demand. According to the 2022 Preqin Global Alternatives Report, the demand for private markets continues to grow and is expected to surpass $23T in overall assets by 2026.
Mitch Reiner, Altera co-founder and Managing Partner of Capital Investment Advisors – an RIA with $4.2B in AUM (as of December 31, 2021) said, “High net worth investors have always had demand for private investments, but they have often lacked access to high-quality, institutional private funds. It is time investors who choose to allocate to alternative investments are able to do so with a cohesive strategy.” RIAs like Capital Investment Advisors can utilize Altera’s investment solutions to introduce private markets allocation to appropriate high net worth clients’ portfolios.
Chris Dardaman, former CEO of multibillion-dollar RIA CI Brightworth Private Wealth and current Managing Director of Altera added, “Allocating investment assets to good, lower middle market private investments can produce greater diversification and stronger risk-adjusted returns than a public markets-only portfolio.”
Altera is an investment firm focused on lower middle market private investments for high net worth individuals, family offices and RIAs. Altera’s investment solutions cover core private equity, real assets, and private credit. Altera’s investment team maintains relationships with hundreds of fund managers and independent sponsors seeking to deliver differentiated sources of return through a combination of multi-manager, single-manager, and direct deal investment offerings. For more information on Altera, visit www.alteraprivate.com.
This press release is provided for the audience’s information only and does not constitute investment advice or suggest an offer to sell, or the solicitation of an offer to buy, any securities or other financial products. All information is provided as of the date referenced and has not been updated since that date for any information contained in it that may have changed, including any beliefs and/or opinions.
Altera Private Access is an investment advisor based in Atlanta, GA. Altera Private Access is registered with the Securities Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the SEC. Altera Private Access only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Altera Private Access’s current written disclosure brochure filed with the SEC, which discusses Altera Private Access’s business practices, services and fees, and other critical items, is available through the SEC’s website at www.adviserinfo.sec.gov.
1 “Altera” collectively refers to Altera Private Access, LLC, a registered investment adviser, and various Altera entities in the ownership structure. Altera and Capital Investment Advisors, LLC are affiliated by common owners.