Exaltare Capital Partners, a Boston, MA-based lower middle market-focused private equity firm, closed its maiden fund, at $90m.
Limited partners include institutional investors, family offices and asset managers.
Founded in 2012, Exaltare is focused on acquiring niche-leading, owner-operated lower middle market businesses.
With the closing of Fund I, Exaltare also recapitalized ECP-PF Holdings Group, Inc. Formed in December 2012 by the firm and Brightwood Capital Advisors to acquire 15 clubs in Connecticut operating under the Planet Fitness brand, PF Holdings is based in Orange, CT and is one of the largest Planet Fitness franchise ownership groups. PF Holdings currently operates 59 locations across Canada, Arizona, Connecticut, New Mexico and New York.