Fundamental Advisors Raises $993M For Third 'Public Purpose' PE Fund

May 19 2017 | 6:06pm ET

Private equity firm Fundamental Advisors LP has raised $993 million in capital commitments for its third buyout fund, exceeding its target.

The new fund, named Fundamental Partners III, was backed by state and corporate pensions, foundations, financial institutions and ultra-high net worth platforms, the company said in a statement. 

As with Fundamental’s prior funds, Fund III will invest in municipal and public purpose assets that are critical to communities, such as affordable and student housing, senior care, infrastructure, alternative energy and hospitality.

“As private capital takes on an increasingly crucial role in developing, revitalizing, and sustaining critical community assets, the differentiated approach that we pioneered over a decade ago is more vital than ever,” said Laurence Gottlieb, chairman and CEO of Fundamental Advisors, in the statement. “Having invested in community assets and essential services for most of my career, the opportunities in today’s market are increasingly compelling. 

Founded in 2007 and based in New York, Fundamental Advisors is an alternative asset manager focused on special situations in municipal market and public purpose assets. The firm targets control-oriented investments in stressed and distressed assets or securities, financing the development or revitalization of public purpose assets, or acquiring undervalued securities in the secondary market.

Fundamental has committed approximately $1.7 billion across more than 100 transactions since 2007.

In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...


CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...


From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.