Aliter Capital has completed fundraising for its second fund, Aliter Capital II, with £134m committed by investors.

The launch of Aliter Capital II follows Aliter’s maiden £92m fund, Aliter Capital I, which closed 21 transactions since it launched in February 2017.

The new fund is backed by a consortium of US and European institutions, including pension funds, funds-of-funds, university endowments and charitable foundations. The firm's founding partners have also made a “significant” financial commitment to the fund.

Founded in 2017 and operating from offices in London and Glasgow, Aliter’s investment strategy for this fund will target medium-sized operators in the UK support services sector, growing them through the acquisition of smaller businesses as well as organic growth.

The GP has already invested in two platform businesses from its Fund II: Concept Resources, a recruitment consultancy supplying staff to the technology, field engineering, sales and procurement sectors; and Halcyon, a UK health data analytics platform.

The firm is currently pursuing further platform investments across the UK, stating that it has a “strong pipeline of opportunities.”