Truelink Capital, a Los Angeles-based private equity firm focused on growth and long-term value creation, announced the closing of Truelink Capital Fund II, L.P., with total commitments of $2.0 billion, exceeding its $1.5 billion target and reaching its hard cap. The fundraise was completed in less than three months and was significantly oversubscribed, closing in a single round.
The fund drew backing from a broad group of institutional investors, including pension plans, endowments, foundations, insurance companies, financial institutions, family offices, consultants, and other investors across North America, Europe, Asia, the Middle East, Australia, and South America.
Fund II will continue the firm’s strategy of partnering with companies in the industrials and business services sectors. The firm plans to focus on accelerating commercial growth, driving operational transformation, and pursuing strategic mergers and acquisitions.
At $2.0 billion, Fund II is more than double the size of Truelink Capital’s first fund, which totaled $950 million. The new vehicle brings the firm’s total assets under management to approximately $4.2 billion.
Founded in 2022, Truelink has been actively building its portfolio and recently announced five new platform investments in 2025. The firm’s Fund I portfolio currently includes 11 platform investments spanning the industrials and business services sectors.
Truelink has also built an organization of more than 20 professionals across its investment, operations, business development and investor relations, and finance and accounting teams.
Truelink Capital partners with management teams, corporate sellers, and founders to accelerate growth through strategic initiatives and add-on acquisitions, using an operationally focused investment approach.
Support: William Blair & Company served as the exclusive placement agent and financial advisor for the fundraising, while Kirkland & Ellis acted as legal advisor.
KEY QUOTES:
“The close of Fund II is an important milestone for our firm, and we are deeply grateful for the strong support of our limited partners. We sincerely thank our investors, many of whom supported us in Fund I, for their trust, partnership, and confidence in our firm. We are proud to partner with such a world-class group of investors as we enter this next phase of Truelink’s growth.”
Todd Golditch, Co-Founder And Managing Partner, Truelink Capital
“We are proud of what our team has built since launching Truelink in 2022, and we believe the current macroeconomic volatility and evolving M&A landscape are creating an attractive environment for our strategy. The combination of rapid AI-driven change and a mixed economy is creating dislocation that rewards hands-on stewardship and operational excellence. Fund II will target companies with strong fundamentals, where we believe we can invest at attractive entry points and drive meaningful improvement through commercial growth, operational initiatives, and strategic M&A.”
Luke Myers, Co-Founder And Managing Partner, Truelink Capital
