U.S. Tritium Partners holds final close of its $465 mln second fund

U.S. private equity firm Tritium Partners has held the final completion on its second fund with $465 million of committed capital.

The vehicle, Tritium II, L.P., was oversubscribed and strongly backed by existing backers and a couple new, substantial institutional backers which included private pension plans, retirement systems, university endowments, foundations, diversified financial institutions and insurance companies.

With the new capital, Tritium will continue its commitment strategy of buying majority stakes in companies with development potential in industries where the team has major domain expertise.

The company’s commitment target will remain majorly in internet marketplaces, information services, supply chain or logistics, financial services and business services companies.