Tritium Partners raises $465m

The Austin,Texas – based investment firm will continue a strategy of acquiring majority stakes in companies with growth potential.

Tritium Partners announced its final closing on Tritium II with $465 million of committed capital. The firm’s second fund was oversubscribed and raised in eight months at its hard cap. The fund exceeded its initial target of $375 million.

The fund’s investors are comprised of retirement systems, private pension plans, university endowments, foundations, financial institutions and insurance companies. Texas Municipal Retirement System is a limited partner known to have made a $60 million commitment to the fund.

Committed capital for Tritium II amounts to a 50 percent increase over the private equity firm’s 2015 inaugural fund.

Weil, Gotshal & Manges served as legal counsel.