AltMountain

True Wind Capital Management, L.P.

San Francisco, CA · CRD 281109
Private equity manager

True Wind Capital Management, L.P. is an SEC-registered investment adviser based in San Francisco, CA that reports managing 12 private funds on Form ADV, including 12 private equity funds. It reports $2.1 billion in regulatory assets under management. Its private funds hold $2.1 billion in gross assets.

Regulatory assets under management
$2.1 billionForm ADV Item 5.F
Gross assets of private funds
$2.1 billionAll private fund types, Form ADV
Private funds managed
12PE 12 · VC 0 · hedge 0
Employees
28Form ADV Item 5.A
Registration
SEC-registered adviserCRD 281109
Latest Form ADV
03/30/2026Disciplinary disclosures: none reported

Private equity funds filing Form D (1)

Fund
First sale
Raised
Investors
Minimum
Offering
True Wind Capital III, L.P.
San Francisco, CA
First sale—
Raised$0
Investors0
MinimumNone set
Offering506(b)

Matched to this firm by the fund names and related persons in each Form D. The list may be incomplete.

Private funds reported on Form ADV (4)

Fund
Gross assets
Minimum
Owners
Adviser
True Wind Capital II, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$740M
MinimumNone set
Owners78
AdviserTrue Wind Capital Management, L.P.
True Wind Capital, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$450M
MinimumNone set
Owners73
AdviserTrue Wind Capital Management, L.P.
True Wind Capital Continuation, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$248M
MinimumNone set
Owners37
AdviserTrue Wind Capital Management, L.P.
True Wind Capital II-A, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$175M
MinimumNone set
Owners10
AdviserTrue Wind Capital Management, L.P.

As reported in the adviser's Form ADV filed Mar 27, 2024. Funds also listed from Form D are shown above.

Fund vehicles: feeder funds and single-deal vehicles (7)

Fund
Gross assets
Minimum
Owners
Adviser
TWC II Acd Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$55.8M
MinimumNone set
Owners5
AdviserTrue Wind Capital Management, L.P.
TWC Expedition Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$47.1M
MinimumNone set
Owners7
AdviserTrue Wind Capital Management, L.P.
TWC II Eclipse Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$38.9M
MinimumNone set
Owners8
AdviserTrue Wind Capital Management, L.P.
TWC Shamrock Co-Invest, LP
Delaware, United StatesPrivate equity fund
Gross assets$31.6M
MinimumNone set
Owners5
AdviserTrue Wind Capital Management, L.P.
TWC II Sterling Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$24.5M
MinimumNone set
Owners2
AdviserTrue Wind Capital Management, L.P.
TWC Transflo Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$24.1M
MinimumNone set
Owners4
AdviserTrue Wind Capital Management, L.P.
TWC II Lonestar Co-Invest, L.P.
Delaware, United StatesPrivate equity fund
Gross assets$9.8M
MinimumNone set
Owners2
AdviserTrue Wind Capital Management, L.P.

Feeder funds invest through a master fund; single-deal vehicles (SPVs, co-investments, series) hold one investment.

From SEC filings. Firm data comes from the SEC's Form ADV data. AltMountain has not verified this information, and it is not an offer, solicitation or recommendation. Full disclosures