Aterian closes continuation $460m fund for Vander-Bend Manufacturing

• With the closing of this continuation fund, Aterian has now raised more than $2 billion of commitments across six different funds
• Jefferies was financial advisor to Aterian on the fund
• Aterian invests in the middle market

Aterian Investment Partners has completed its second new single-asset continuation fund at about $460 million for San Jose, California-based Vander-Bend Manufacturing, which serves the medical tech market.

Aterian Opportunities II will be used to buy Vander-Bend Manufacturing Inc from Aterian Investment Partners II. The fund will also provide an incremental $90 million to support Vander-Bend.

With the closing of this continuation fund, Aterian has now raised more than $2 billion of commitments across six different funds.

Managed by Aterian, the continuation fund will be anchored by funds managed by J.P. Morgan Global Alternatives, Hollyport Capital and Blackstone Strategic Partners.

On the closing of this continuation fund, the Aterian team said in a statement: “This CV allows us to continue our partnership with Vander-Bend and also provides a significant and attractive liquidity event to our Fund II investors. We are immensely grateful for the support received from both new and existing investors during this process.”

For Aterian, Jefferies LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel.

Vander-Bend was founded in 1979.

With offices in New York and Florida, Aterian Investment Partners invests in middle market businesses. Aterian was founded in 2009.