Rainier Partners, a private equity firm investing in lower middle-market services businesses, announced today that it has completed fundraising for Rainier Partners Fund I at its hard cap of $300m, in excess of its $250m target.
The fund’s limited partners include foundations, global asset managers, insurance companies, pension plans, family offices, and high-net-worth individuals.
Founded by Alex Rolfe and Jon Altman, Rainier focuses its investment strategy on lower middle-market businesses across North America, with a particular interest in business services, financial services, consumer services, and industrial services. Altman and Rolfe have twenty years of shared history in lower middle-market private equity investing. The Rainier team brings an active partnership approach to investments, providing operational resources, strategic support, and significant growth capital. The firm primarily invests in control buyouts, with a focus on family-, founder-, and privately-owned businesses and corporate carve-outs.
“We are proud to celebrate this important milestone in our firm’s history,” said Altman. “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.”
