Citation Capital, a Dallas-based private equity firm that buys control stakes in founder- and family-led businesses, has held the final close of its inaugural fund, Citation Fund I. The fund was oversubscribed, reaching its $1.1 billion hard cap in third-party commitments; with capital from the general partner and affiliates, total investable capital reached $1.2 billion, and Citation manages $2.1 billion in assets including co-investment capital.
Founded in 2023 by Tiffany Hagge and Lydie Hudson, alongside partners Spencer Almy and Santiago Castelazo, Citation Capital invests in middle-market services, industrials, and consumer businesses across North America. It has completed four investments to date: Cibo Vita, Aptive Environmental, Gallo Mechanical, and World Travel Holdings. Ms. Hagge is founder and managing partner and Ms. Hudson is co-founder and president. According to third-party sources, Citation Fund I ranks among the biggest first-time buyout funds of the past decade and is the biggest female-founded buyout fund launched to date.
Citation is headquartered in Dallas, with an office in Greenwich, Connecticut.
