FORTUNE — In March we reported that investment bank Perella Weinberg Partners was raising $400 million for a growth equity fund, led by former Weston Presidio partners Chip Baird and David Ferguson.

Now Fortune has learned that the firm already has secured $225 million, from both a first close and subsequent capital commitments.

The group — called PWP Growth Equity — expects to hold a second close by year-end, which may prove to be the final one.

No comment from PWP, citing SEC restrictions on solicitation.

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