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Rainier Partners closes inaugural fund at $300m hard cap

Rainier Partners, a private equity firm investing in lower middle-market services businesses, has completed fundraising for its debut fund, Rainier Partners Fund I, at its hard cap of $300 million, in excess of its $250 million 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. The firm primarily invests in control buyouts, with a focus on family-, founder-, and privately-owned businesses and corporate carve-outs.

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

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