New York City and Austin-based Trilantic North America has closed its sixth fund at a hard cap of $2.75 billion, beating its $2.25 billion target.
The private equity firm invests in entrepreneurial and family- and founder-owned businesses. The fund’s investors included public and private pension plans, insurance companies, corporations, endowments and foundations, family offices and high-net worth individuals.
In 2013, Trilantic raised $2.2 billion for its fifth fund, generating an IRR of 17.97 percent, as of June 30, 2018, according to the Pennsylvania Public School Employees’ Retirement System.
As previously reported by Buyouts in an earlier report, Evercore and Magenta Capital Services were the placement agents.
Trilantic was spun out of Lehman Brothers in 2009.