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ATL Partners
ATL Partners was founded in 2014 by Frank Nash, who previously led transportation and logistics investment banking at Lazard.
ATL Partners
ATL Partners was founded in 2014 by Frank Nash, who previously led transportation and logistics investment banking at Lazard. The firm was purpose-built to translate a sector-specialist advisory practice into a dedicated private equity vehicle. Its thesis is that aerospace, defense, and freight logistics reward operators who understand multi-year capex cycles, regulatory tailwinds, and the physical constraints of moving people and goods — nuances that baffle generalist investors. ATL writes equity checks for control positions in founder-owned and corporate carveout targets, typically deploying $50 million to $200 million per deal. Its known portfolio includes Pilot Freight Services, a last-mile logistics provider sold to Maersk, and Aero Precision, a defense and aerospace components supplier acquired from a corporate parent. The firm uses its Lazard-era advisory network to source off-market opportunities, often acting as the first institutional capital into family-run logistics operators. Geographically, the firm concentrates on North American companies with continental supply chains. The firm closed its second fund, ATL Partners II, at approximately $700 million in 2022 (per the firm, 2022), exceeding its initial target. ATL operates from New York and typically holds portfolio companies for five to seven years, using operating partners with freight and defense backgrounds to professionalize founder-led businesses. The firm has not disclosed adjacent vehicles or a philanthropic arm. ATL's structure is a pure sector concentration play. It does not dabble in software, healthcare, or energy. This self-imposed narrowness is its structural differentiator — it forces the firm to underwrite every deal within the same industrial thesis, and it pitches limited partners on the argument that true operational alpha in transport and defense requires full-time sector immersion, not a generalist's part-time attention.
General information
Firm type
Asset Manager
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Frank Nash
Founder & Managing Partner
Paul Teske
Partner
Kirby Sneen
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at ATL Partners?
Founder and Managing Partner Frank Nash leads the investment committee, supported by Partners Paul Teske and Kirby Sneen. Nash built the Lazard transportation advisory franchise before spinning out the PE platform, and the team's decisions reflect that sector-specialist DNA.
How does ATL Partners source proprietary deal flow?
The firm leans heavily on the advisory relationships Frank Nash and his partners cultivated at Lazard. ATL targets founder-owned freight forwarders, niche aerospace suppliers, and corporate carveouts in logistics — deals that often never reach a broad auction process and require sector-specific credibility to open.
Does ATL Partners participate in fund commitments or only direct deals?
ATL invests exclusively through direct control equity deals. It does not operate as a fund-of-funds or allocate LP capital to other managers. The firm structures each investment to hold a majority or significant minority position with board control.
What investment stages does ATL Partners typically target?
ATL focuses on mature, cash-flow-positive businesses with established customer bases in aerospace, defense, and logistics. It does not invest in early-stage or venture-backed companies; the firm seeks control positions in businesses with at least $10 million of EBITDA and clear operational improvement levers.
Which sectors does ATL Partners explicitly avoid?
ATL explicitly avoids software, healthcare, financial services, and consumer goods. The firm's mandate is deliberately narrow — it only invests in aerospace and defense manufacturing, freight logistics, and transportation services, believing those sectors offer the deepest mispricing relative to generalist funds' expertise.
How is ATL Partners related to Lazard?
ATL Partners is an independent firm, but its founding team came directly from Lazard's transportation and logistics investment banking group. Frank Nash and his partners built their deal network inside Lazard before spinning out the PE platform in 2014. There is no ongoing financial or ownership relationship between the two firms.
What is ATL Partners' known posture on co-investments alongside external GPs?
ATL will selectively partner with external GPs on deals that require more capital than a single fund's concentration limit allows, but it does not market co-investment as a standard LP benefit. The firm's typical deal is a proprietary control acquisition without co-investors.
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