Altamont promotes Brownlie to managing director

Steve Brownlie joined Altamont upon its founding in 2010. 

Altamont Capital Partners has promoted Steve Brownlie from principal to managing director, according to a statement.

Brownlie has been with Altamont since the firm’s founding in 2010. He was previously a vice president at Lazard Alternative Investments and a senior associate at Golden Gate Capital. Brownlie has focused on consumer products and retail investments and has completed transactions in the financial services, industrial and business services sectors, according to Altamont’s website.

Altamont has also promoted former vice presidents Jon Altman and Alex Rolfe to principals. Altman previously worked at Berkshire Partners, while Rolfe was a principal at Alpine Investors.

Altamont’s 2013 investments include food brands Richard’s Cajun Foods and Blue Ribbon, which the firm combined to form Tall Tree Foods Holdings, and the A$70 million ($61.6 million; £37.1 million) acquisition of surfing accessory company DAKINE, which was carved out of Billabong International. Altamont had previously provided Billabong with a $294 million refinancing package, but the deal hit a snag when the Australian Takeovers Panel deemed the A$65 million break-up fee  included in the agreement, among other clauses, as unacceptable. Billabong later entered into a restructuring agreement with Centerbridge Partners and Oaktree Capital Management instead.

Altamont launched its Fund II in 2013 and had raised about $647 million as of last December, according to documents filed with the US Securities and Exchange Commission. Fund II has a $600 million target, according to Private Equity International’s Research and Analytics division.

Altamont declined to comment on fundraising.

San Francisco-based Altamont was co-founded by Jesse Rogers, Randall Eason and Keoni Schwartz, all of whom previously worked together at Golden Gate Capital.