Insight

Rainier Partners raises $300m for debut fund

Rainier Partners Fund I's limited partners include foundations, global asset managers, insurance companies, pension plans, family offices, and high-net-worth individuals.

-
  • M2O Private Fund Advisors was the placement agent while Kirkland & Ellis LLP acted as fund counsel to Rainier
  • Rainier Partners invests in the lower middle-market
  • The private equity firm has over $375 million in assets under management

Rainier Partners has closed its inaugural fund at a hard cap of $300 million, beating its $250 million target.

Rainier Partners Fund I’s limited partners include foundations, global asset managers, insurance companies, pension plans, family offices, and high-net-worth individuals.

Rainier was founded by Alex Rolfe and Jon Altman.

“We are proud to celebrate this important milestone in our firm’s history,” said Altman, in a statement. “We are thankful for the strong reception we’ve received and are honored to partner with world-class investors who share our excitement for our proven strategy.”

M2O Private Fund Advisors was the placement agent. Kirkland & Ellis LLP acted as fund counsel to Rainier.

Based in Seattle, Rainier Partners has over $375 million in assets under management. The private equity firm focuses on lower middle-market businesses across North America, with a particular interest in business services, financial services, consumer services, and industrial services.