FORTUNE -- Private equity firm Altamont Capital Partners is beginning to raise its second fund, Fortune has learned. Its target is $600 million, but expectations are that it will either meet or exceed its $750 million soft cap.
Palo Alto-based Altamont was formed in mid-2010 by three former partners of Golden Gate Capital, including co-founder Jesse Rogers. It focuses on middle-market companies in need of significant operational or strategic change, and raised $500 million for a debut fund that is almost fully-committed.
Portfolio companies include snowboard maker Mervin Manufacturing, vinyl window manufacturer Cascade Windows and Taco Bell franchisor Tacala LLC.
Rogers declined to comment on fundraising, due to regulatory restrictions.
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Yesterday we reported that Stefan Kaluzny had resigned as a managing director with Golden Gate Capital, where he had been part of the founding team in 2000. Now we have some additional details.
A source familiar with the situation says that Kaluzny is planning to open his own private equity firm, with a focus on investments in the retail sector. Joining him will be Peter Morrow, who most recently served as MOREDan Primack - Jan 23, 2011 4:05 PM ET
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