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Alternative Assets  + Private Equity  | 
Rainer Partners Closes Debut Fund at $300M Focused on Lower Middle-Market Businesses

Rainier Partners Closes Debut Fund at $300M Focused on Lower Middle-Market Businesses

Seattle-based private equity firm Rainier Partners has closed its first fund – Rainier Partners Fund I – at its hard cap of $300 million, exceeding its $250 million target.

With over $375 million in assets, the firm invests in control buyouts, with a focus on family-, founder- and privately-owned businesses and corporate carve-outs.

The new fund’s limited partners include foundations, global asset managers, insurance companies, pension plans, family offices and high-net-worth individuals.

The firm was founded by Alex Rolfe and Jon Altman and focuses on lower middle-market businesses across North America, with a focus on business, financial, consumer and industrial services.

Rainier’s recent investments include Calpine Containers, an agricultural packaging distributor, Wilmar, a leading supplier and distributor of tools and equipment, and Pet Food Express.

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

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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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