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Exaltare Capital Partners closes Exaltare Capital Partners Fund I

Exaltare Capital Partners has held the successful closing of its initial private equity fund, Exaltare Capital Partners Fund I, at USD90 million.

Limited partners include a range of sophisticated institutional investors, family offices and asset managers. Founded in 2012, Exaltare is focused on acquiring niche-leading, owner-operated lower middle market businesses.
 
With the closing of Fund I, Exaltare also recapitalised ECP-PF Holdings Group. PF Holdings was formed in December 2012 by Exaltare and Brightwood Capital Advisors to acquire 15 clubs in Connecticut operating under the Planet Fitness brand. Through a combination of acquisitions and new club development, the PF Holdings footprint has grown to include 59 clubs in four states and Canada.
 
Omar Simmons, founder and managing partner of Exaltare, says: “Working together with PF Holdings’ management team to execute on a number of strategic initiatives has allowed the business to grow by over four times and achieve a strong return for our initial investors. With additional capital now available from Fund I, we look forward to continuing to support PF Holdings’ growth plan.”
 
Exaltare engaged Lazard’s Private Capital Advisory team (Lazard) as financial advisor in connection with the transactions.
 
SImmons says: “Lazard did a great job managing a robust fundraising process that resulted in an oversubscribed Fund I. We are grateful for the support from our investor base and look forward to deploying Fund I and delivering strong results as we grow the portfolio.”

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