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Alternative Assets  + Private Equity  |  November 6, 2023
JP Morgan, Blackstone Anchor $460M Aterian Continuation Fund
Joe Palmisano
By: Joe Palmisano

JP Morgan, Blackstone Anchor $460M Aterian Continuation Fund

Aterian Investment Partners, a middle market private equity firm, has raised about $460 million for a new single-asset continuation vehicle for portfolio business Vander-Bend Manufacturing.

J.P. Morgan Global Alternatives, Hollyport Capital and Blackstone Strategic Partners anchored Aterian Opportunities II, which the firm said was supported by new and returning LPs.

The fund will provide an incremental $90 million of growth equity to support Vander-Bend as the company continues to execute its strategic plan. Aterian has made a string of bolt-ons for Vander-Bend since buying the business in 2018.

With the closing of the vehicle, Aterian has now raised more than $2 billion across six funds.

Ander-Bend specializes in complex precision manufacturing and assembly, primarily serving medical technology end markets including robotic assisted surgery and radiation oncology.

Jefferies served as financial advisor to Aterian and Kirkland & Ellis as legal counsel.

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Inside The Story

Aterian Investment PartnersJ.P. Morgan

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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