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Alternative Assets  + Private Equity  |  November 6, 2023
JP Morgan, Blackstone Anchor $460M Aterian Continuation Fund
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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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