9AT: RAINIER CAPITAL PARTNERS LP

other names

Rainier Partners is a private equity firm rooted in the Pacific Northwest that invests in businesses in the lower middle market, primarily in the Western US and Canada. Rainier’s principals have deep experience investing in businesses across verticals including Business Services, Financial Services, Industrial Services and Consumer Services. Rainier’s approach is to develop a partnership with owners and management teams, combined with an open, collaborative form of communication, that allows businesses to accelerate their profit growth.

Revenue	$6.3 m
Headquarters	1111 3rd Ave, Suite 3030 Seattle, Washington 98101, US

Adviser Profile

As of Date	04/25/2025
Adviser Type - Large advisory firm
Number of Employees	13
of those in investment advisory functions	12
Registration	SEC, Approved, 05/19/2023
Other registrations (4)	SEC, ERA - Withdrawn, 04/21/2023 Washington, ERA - Withdrawn, 04/21/2023 SEC, ERA - Active, 03/04/2022 Washington, ERA - Active, 09/09/2021
Former registrations	RAINIER CAPITAL PARTNERS LP

AUM^*	339,667,670
of that, discretionary	339,667,670
Private Fund GAV^*	339,667,670 8.57%
Avg Account Size	113,222,557
SMA’s	No
Private Funds	3
Contact Info	206 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypePrivate Equity Fund	Count3	GAV$339,667,670

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser GOANNA CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund1.5b	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.5b	AUM596.7m	#Funds59
Adviser ISOMETRY CAPITAL, LLC	Hedge Fund613.8m	Liquidity Fund-	Private Equity Fund9.6m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV623.4m	AUM1.0b	#Funds11
Adviser UPPER BAY INFRASTRUCTURE MANAGEMENT, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM309.2m	#Funds-
Adviser OSCEOLA CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund362.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV362.8m	AUM362.8m	#Funds3
Adviser EMPEIRIA CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund359.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV359.3m	AUM373.2m	#Funds7
Adviser MCNALLY ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund379.8m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV379.8m	AUM379.8m	#Funds13
Adviser AUGMENT INFRASTRUCTURE MANAGERS ADVISORY LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund282.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV282.7m	AUM287.0m	#Funds3
Adviser EQUALITY ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund519.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV519.4m	AUM519.4m	#Funds4
Adviser INTERLOCK EQUITY LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund165.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV165.3m	AUM414.1m	#Funds3
Adviser ATON FINANCIAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund95.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV95.4m	AUM469.1m	#Funds5

Brochure Summary

Overview

Our Advisory Firm Rainier Capital Partners, LP (“Rainier” or the “Firm”) was formed in 2020 as a Delaware limited partnership and is principally located in Seattle, WA. Rainier is owned by Rainier Capital Partners GP LLC, which is subsequently owned by Rainier’s Managing Partners, Jonathan Altman and Alex Rolfe (“Managing Partners”). Our Advisory Business Rainier provides investment advisory services to privately offered pooled investment vehicles, or private funds (each a “Fund” and collectively, the “Funds”). The Funds are managed in accordance with each their respective investment objectives, strategies, restrictions and guidelines; and are not tailored to any particular private investment vehicle investor (“Investor”). Investors should consider whether a particular Fund meets their investment objectives and risk tolerance prior to investing. Detailed terms, strategies and risks applicable to Investors in the private funds are described in the respective Fund organizational and offering documents (together, “Operative Documents”). Rainier seeks primarily to make control investments in lower middle market services companies. Rainier targets equity investments in the Business Services, Industrial Services,

Consumer Services, and Financial Services sectors. Discussions of the Funds in this Brochure, including but not limited to their investments, the strategies used in managing the Funds, the fees and other costs associated with an investment in the Funds, and conflicts of interest faced by Rainier and its affiliates in connection with management of the Funds, are summaries intended only to provide required information on our business and practices to our advisory clients, the Funds. These discussions are not intended for use in evaluating an investment in a Fund. Investors and prospective Investors in a Fund should read the respective Funds’ Offering Documents for additional information on these matters. Participation in the Funds is limited to certain qualified Investors, as described in Item 7. Additional information about many of the private funds is available in our Form ADV Part 1A, Schedule D, Section 7.B.(1), available at: www.adviserinfo.sec.gov . Rainier’s regulatory assets under management are approximately $312.9 million as of 12/31/2023, all of which are managed on a discretionary basis.

RAINIER CAPITAL PARTNERS LP

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Overview