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Former Lehman Team Seeking $2B for New Fund
December 23, 2011
Trilantic Capital Partners, a private-equity firm created from Lehman Brothers Holdings Inc.’s former merchant-banking unit, is seeking $2 billion for its first fund following its spinoff.
Trilantic Capital Partners V (North America) LP will primarily target deals in consumer, energy and financial services, according to marketing materials dated October 2011 and obtained by Bloomberg News. The fund will make investments of $50 million to $200 million in North American companies with enterprise values as much as $1 billion, according to the materials.
The firm is raising money more than two years after executives of Lehman Brothers’ merchant-banking unit, along with Luxembourg-based Reinet Investments SCA, bought the business from the bankrupt parent company for $20 million and renamed it Trilantic. As part of a deal with investors to spin out the unit, Lehman Brothers slashed its vintage 2007 fund to $2.6 billion from $3.3 billion.
Mark Kollar, an outside spokesman for New York-based Trilantic, declined to comment on fundraising. Evercore Partners Inc. is acting as placement agent for the fund.
Trilantic, which manages about $4 billion of committed capital across three funds, has made 12 new investments globally since its inception in April 2009, according to the October document.
The latest fund will be managed by former Lehman executives Charlie Ayres, Danny James, Chris Manning, Jon Mattson and Charles Moore, according to the document. [Bloomberg 12/22/11]

