European private equity firm Triton Partners has amassed €744m at the final close of its latest debt fund, surpassing its initial €550m target. The vehicle, Triton Debt Opportunities II, was launched in 2018 and it is considerably larger than its predecessor, which raised €500m in 2014.
So far, Triton has benefited from Covid-19 disruption and has deployed 40% of the fund. The firm said it “anticipates considerable opportunity to invest further during the market’s recovery phase”.
It also said it has raised a separate managed account, which will serve as an overflow account for the fund.
TDO II invests in non-control positions in mid-market companies, with its average investment size typically between €10m and €40m. Its main targets are in the industrials, business services, consumer and health sectors, across the Nordics, DACH and Benelux regions.
Triton Partners, which was set up in 1997, is headquartered in London and invests in medium-sized businesses in Europe. It currently has a portfolio of 44 companies with combined sales of about €18bn.
Source: Private Equity News
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