Tritium Partners LP said Jan. 15 that its second fund closed on $465 million. The target for Tritium II LP was $375 million. Tritium focuses on growth companies in sectors including internet and information services, supply chain and logistics, as well as financial and business services.
Austin, TX (January 15, 2019) – Tritium Partners, LP (“Tritium”), a private equity firm specializing in buyouts of growth companies in the lower middle market, announced its final closing on its second fund – Tritium II, L.P. – with $465 million of committed capital, a 50% increase from Tritium’s 2015 inaugural fund. Tritium II, which was oversubscribed, was strongly supported by existing investors, who in aggregate increased their commitment level in this fund, and several new, substantial institutional investors. The fund’s investors include leading retirement systems, private pension plans, university endowments, foundations, diversified financial institutions and insurance companies. The fund, which launched with an initial target of $375 million, was raised in eight months and closed at its hard cap. Tritium now manages just under $800 million of capital across its funds and affiliates.
Tritium will continue the investment strategy its founders have employed for over 16 years of acquiring majority positions in companies with exceptional growth potential in industries where the team has significant domain expertise. The firm’s investment focus will remain predominantly in internet marketplaces, information services, supply chain / logistics, financial services and business services companies. The team will continue its strategy of proactively partnering with talented founders and executives who want to accelerate growth and build market-leading companies.
“We are extremely excited to have the strong support of our current base of investors and proud of adding a terrific group of new investors,” said Philip Siegel, Managing Partner and Co-Founder of Tritium. “They share our belief that there continue to be compelling opportunities for growth-focused investing in the lower middle market.”
Ten portfolio investments have been completed in Tritium I, L.P. Tritium recently announced its first exit in Tritium I, RoadOne IntermodaLogistics.
“In Fund I, we have been able to build on our track record of finding companies with exceptional potential, pairing founders with seasoned executives in their sectors, and rapidly accelerating growth. Our success with this strategy translated into strong investor support and an efficient fundraise,” said David Lack, Managing Partner and Co-Founder of Tritium. “We are proud of the Tritium team, excited about our portfolio and look forward to partnering with our investors for another cycle.”
Weil, Gotshal & Manges LLP acted as legal counsel.
About Tritium Partners
Founded in 2013, Tritium is a private equity firm focused on companies with exceptional growth potential. For over 16 years, both at Tritium and prior vehicles, Tritium’s founders have deployed over $850 million of equity capital while partnering with talented founders and executives to build market-leading companies. Tritium’s approach emphasizes creating long-term value through strategic growth initiatives and acquisitions, with a focus on internet and information services, supply chain and logistics, and financial and business services.