The European arm of Trilantic Capital Partners, the private equity firm that was launched in 2009 by a group of former Lehman Brothers merchant banking executives, has reached its fundraising target on its fifth European vehicle.

The fund, Trilantic Capital Partners (Europe) V, has secured €700 million of commitments to the fund. Trilantic will continue to market the fund in an effort to reach a €850 million hard cap level, according to people familiar with the matter.