Reprinted from The Daily Deal.

Private equity shop Fremont Partners is changing its name to Calera Capital. The move comes as Calera begins preparations to raise its fourth fund, Mark Williamson, a managing partner at the firm's Boston office, said on Wednesday, Feb. 21. Calera will soon close the investment cycle of its third fund, a $920 million vehicle. Founded in San Francisco in 1991, the firm originally named itself after its first institutional investor, the Fremont Group. But it has evolved into a pool of more than 30 limited partners. Calera is a type of limestone indigenous to Norther California that is used as a building material. Since its inception, the firm has generated internal rates of return of more than 40% and cash-on-cash returns of 3 times, Williamson said.

– Christine Idzelis

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