The West Point classmates are managing partners of Richmond private equity firm Battle Monument Partners. They founded the firm in 2014 to invest in single-tenant commercial properties in the Southeast and Mid-Atlantic. Now, the company is raising up to $5 million through it first securities offering, according to an SEC document filed last month. The money will be raised through debt securities in a fund named STRAC Fund I, and will be used as leverage to add to its portfolio of 10 properties.
A former operating executive in venture capital and private equity-backed companies, Oliver had long hoped to start his own investment fund. Teaming up with Brumagin, a West End resident and restaurant franchisee, and Abbott, who retired from the U.S. Army five years ago and lives in Arlington, seemed like the perfect partnership. The firm also employs two interns from VCU at its 1805 Monument Ave. office. “We did a lot of work the past two years to get it set up,” Oliver said. “It seems to be the right decision at the right stage of life, and I couldn’t be happier.”
Battle Monument Partners has 36 investors lined up, most of whom are military academy graduates. While Oliver said he doesn’t want his fund to be exclusive, the self-described “Gray Hog” used the partners’ military contacts to build the firm. The partners are focused on attaining above-market return for clients, but they also added a social mission to their firm. Battle Monument Partners committed to donate up to 10 percent of the carried interest from its portfolio sales to charities focused on assisting veterans. Read More