Capitalizing The
Lower Market.
Altera is an alternative investment firm dedicated to providing investors access to lower market private investments.
A Powerful Partnership
Over 500 ultra-high-net-worth
individuals, family offices, and
independent wealth management firms
have built an enduring private market
portfolio with Altera.
5
Investment Verticals
$500M
Approximate Capital
Commitments as of
6.15.25
Private Investments For Private Wealth.
High-net-worth individuals, family offices, and financial advisors need an experienced and aligned partner to help them navigate private markets. We founded our firm to provide the private wealth channel the opportunity to invest alongside us in the most compelling lower market investment strategies.
Commitments
Relationships
Strategies
An Elevated Alternatives Solution...
Investing Alongside Us.
Our alternative asset management firm empowers high-net-worth individuals, family offices, and financial advisors to build and manage high-quality private market portfolios through curated offerings and personalized infrastructure.
Review Offerings
Altera’s Investment Strategies team is in a constant state of due diligence and fully dedicated to providing our capital partners access to compelling lower market investments each year.
We operate differently. Our Firm's shareholders are typically the largest investor in each investment. As such, the opportunities we curate are structured with capital protection in mind. If we focus on the downside, the upside will take care of itself.
Customize Allocations
Our investment offerings cover multiple asset classes, sectors, and strategies. Investors and advisors can build a custom portfolio by selecting which opportunities match their portfolio objectives.
Through Altera’s scale and investment structure, investors gain access to opportunities at lower investment minimums, making it easier to build a highly diversified portfolio.
Subscribe Digitally
Altera’s operational infrastructure was designed around individual investors and financial advisors. Our onboarding capabilities simplify the tedious parts of alternative investing.
Since our founding, we have onboarded hundreds of investors and nearly 2,000 capital commitments.
Forecast Cashflows
Apex, our in-house technology and “alts command center”, provides investors and financial advisors with a heightened understanding of performance and cash flow pacing, enabling them to better plan for both capital calls and distributions.
Through these insights and quick-to-generate reports, investors and advisors can analyze their portfolios and make more informed investment decisions.
Redeploy Profits
By working with Altera, investors and advisors can build an enduring private market portfolio, one allocation at a time.
Investors can fund new commitments by recycling distributions from current investments. By redeploying profits, investors can grow the value of their alternatives portfolio over the long term.
Altera’s Investment Strategies team is in a constant state of due diligence and fully dedicated to providing our capital partners access to compelling lower market investments each year.
We operate differently. Our Firm's shareholders are typically the largest investor in each investment. As such, the opportunities we curate are structured with capital protection in mind. If we focus on the downside, the upside will take care of itself.
Capturing Structural Advantages.
We built our entire investment program around the inefficiencies of the lower market. We believe our five distinct investment verticals take advantage of the best risk-adjusted opportunities in the lower market. In the near term, we plan to invest $5B across these five segments.
The Benefits of Lower
Market Investing.
We focus exclusively on the lower market because regardless of the macroenvironment, we believe a few key tenants will remain true and drive outperformance:
Lower Market GPs & LPs Are More Aligned
For smaller AUM firms, profitability is more reliant on performance vs. management fees.
Supply & Demand Imbalance
~99% of all US companies are small businesses and yet only ~8% of private capital is lower market focused.
More Attractive Valuations At Entry And Exit
Lower market businesses can be acquired at lower multiples, professionalized, and sold upmarket at higher multiples.
Five Distinct
Investment Verticals.
Our investment verticals capture and express the structural advantages of the lower market. By investing alongside us in these unique strategies, investors and advisors can gain exposure to sophisticated private investments that are hard to identify, source, underwrite, and access without Altera. Each one of these verticals is specifically designed to provide enhanced returns and diversification. Altera’s shareholders have personally invested $140M+ across these five segments.
Equity & Credit SBICs
Our flexibility and deep understanding of Small Business Investment Company (“SBIC”) structures make us one of the few firms in the country that can provide capital to these advantaged funds.
GP Ownership Stakes
Altera’s operating experience and business model allow us to be a strategic capital partner to lower-middle market general partners looking to build long-lasting franchises.
Independent Sponsors
Our ability to be a long-term partner to independent sponsors, especially as they grow, makes Altera an attractive source of equity capital. This gives us a unique sourcing advantage.
Co-Investments
Our lower market sponsor ecosystem provides Altera with unique and broad access to co-investment opportunities across sectors, strategies, geographies, and sponsors.
Tactical Specialists
We have the ability to invest up to $50M alongside sector specialists operating with a competitive advantage that allows them to consistently deliver attractive risk-adjusted returns.
Our Team Drives Our Success.
Meet the people driving transformative value creation for our investors and partners. We are a highly experienced team of professionals that approach investing in private markets differently.
David Fershteyn
Chief Executive Officer, Managing Partner
Carlos Alcala
Chief Financial Officer
Ansur Ahmed
Chief Compliance Officer
Abby Wuthrich
Associate
Investor Relations
Brian Batchelor
Strategic Advisor
Chris Dardaman
Managing Director
Investment Strategies
Hannah Parsons
Vice President
Finance & Accounting
Harris Baranovitz
Director
Finance & Accounting
Hunter Alder
Associate
Finance & Accounting
Jared Datoc
Senior Associate
Finance & Accounting
Jeff Peller
Managing Director
Investment Strategies
Julie Newman
Managing Director
Investor Relations
Lisa Trivers
Controller
Finance & Accounting
Matt Sherman
Managing Director
Investment Strategies
Mitch Reiner
Strategic Advisor
CEO & Co-Founder, David Fershteyn, Makes the 2025 Forbes 30 Under 30 List
Altera’s CEO and Co-Founder, David Fershteyn, was recognized as one of Forbes 30 Under 30 on the 2025 North America list for Finance.
Altera Investments Ranked on the 2024 Inc. 5000 Fastest Growing Companies in America
Companies are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must be US-based, privately held, for-profit, independent, and must meet required revenue minimums. Altera paid an entry fee to be considered for this recognition, but did not pay to be included on this list.
Altera, An Alternative Asset Manager, Exceeds $400M in Committed Capital
Altera, An Alternative Asset Manager, Exceeds $400M in Committed Capital - Download Press Release Now
Altera Ranked #1 in UGA's Bulldog 100
Companies are ranked according to % revenue growth from 2019 - 2022. To qualify, companies must have been in business since January 2019 and must have verifiable revenues of $100,000+ in the calendar years 2020 - 2022. Altera did not pay an entry fee for this recognition or to be included on this list.