Triton Partners Raises €5.5 Billion for Flagship Fund T6

Triton Partners, a European buyout firm, has successfully raised €5.5 billion ($6.3 billion) for its new flagship fund, T6, marking an important milestone for the firm. This fund, the firm's sixth mid-market fund, is approximately 10% larger than its predecessor, which closed in December 2018 with a size of €5 billion.

The fundraising process for T6 began in summer 2023, and the firm was able to close the fund at the target size in January. The successful fundraising comes after the firm faced challenges in attracting fresh money due to controversies surrounding its workplace culture and a difficult fundraising environment.

In response to the allegations, Triton Partners hired a consultant to review its workplace culture and set up a hotline for employees. The firm also increased communication with investors to improve transparency. Investors conducted additional due diligence and committed capital to T6 once they were satisfied with corporate governance at Triton.

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Triton Partners, founded in 1997 and led by Chief Executive Officer Peder Prahl, has already deployed approximately €900 million of capital from T6, making investments in companies such as Keenfinity Group and MacGregor. The firm has also made distributions to investors equivalent to around 30% of its net asset value over the last two years.