Alpine Investors raises $1bn

The San Francisco-based firm closes its seventh middle market fund above its target.

Alpine Investors held a final closing of Alpine Investors VII at $1 billion, exceeding its $750 million target. The vehicle surpasses capital raised by its predecessor, Alpine Investors VI, which closed in June 2017 at $532 million.

Fund VII received commitments from several institutional investors including pensions, endowments, family offices and fund-of-funds, including a €22 million ($24.24 million) commitment from Brederode SA. Alpine will use Fund VII to invest in middle market software and business services companies throughout North America.

Founded in 2001, Alpine Investors is a private equity firm based in San Francisco that invests in small and medium-sized companies throughout the United States and Canada. With the closing of Fund VII, the firm now manages $2.70 billion in assets.

Evercore Partners acted as the placement agent for the fund.