Grafine Partners, a NY-based alternative investment management firm, closed its debut strategy, Grafine Capital I, and parallel vehicles with approximately $600 million.

The strategy exceeded its $500 million target with commitments from a small and select group of institutional investors, including CAZ Investments, which committed $200 million to the firm last October.

Grafine’s first strategy provides anchor LP capital and institutional-level support to first-time funds launched by private markets investors in exchange for revenue sharing and access to co-investment opportunities for its LPs.

Launched in 2019 by Elizabeth Weymouth, founder and managing partner, Grafine has already deployed a portion of its capital in three first-time managers and associated direct investments.

The managers include Ascendant Capital Partners, an opportunistic real estate investment and operating firm focused on hotel and residential investments; Stanley Capital Partners, a European-focused mid-market private equity firm focused on healthcare, technology & resource efficiency; and the Newcastle Network, an investment platform providing growth capital to lower middle market performing consumer businesses.

“Grafine’s mission is to provide access to differentiated and potentially high returning investment opportunities by investing behind the next generation of talented managers and operating partners and working with them day in and day out to build profitable and scalable firms,” said Weymouth.

Grafine recently launched its second strategy focused on co-investments, which will be a dedicated, pooled vehicle seeking to earn high risk-adjusted returns by investing in a portfolio of highly vetted co-investment opportunities sponsored by select emerging private equity managers, the firm said.