Trilantic Capital Partners, a private equity firm spun off from Lehman Brothers Holdings’ former merchant-banking unit, is seeking $2 billion for its first fund as a separate firm.
Trilantic Capital Partners V (North America) will primarily target deals in consumer, energy and financial services, according to marketing materials dated October 2011. 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, 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, a spokesman for Trilantic, declined to comment on fundraising. Evercore Partners is acting as placement agent for the fund.
Trilantic’s $2.6 billion fund from 2007 includes a $1.9 billion global pool and €600 million ($783.2 million) component focused on Europe. The firm plans to market its next Europe fund in 2012, according to the materials.
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.