(Bloomberg) -- Private equity firm Citation Capital is seeking to raise about $850 million for its debut fund, according to people with knowledge of the matter.

The Dallas-based firm, led by former BDT dealmaker Tiffany Hagge and Credit Suisse alum Lydie Hudson, is discussing the vehicle with prospective investors, said the people, who requested anonymity. A Citation Capital representative declined to comment.

Citation has already begun making investments. In October, the firm acquired a majority stake in Cibo Vita, which counts Nature’s Garden — a maker of  healthier snacks such as trail mix, dried fruit and yogurt-covered-pretzels — as its flagship brand.

Citation’s team, which includes former BDT managing director Spencer Almy, has experience backing companies in the consumer and retail, industrials and business and financial services sectors, its website shows. The firm has said it aims to make control investments in founder- and family-owned businesses.

Hagge, Citation’s managing partner, rose to the rank of partner at BDT, where she worked on bets including Whataburger, the manufacturer Balcan Innovations, MJH Life Sciences and fishing equipment maker Lew’s Holdings Corp.

Citation joins the ranks of other female-led private equity firms that have been established in recent years, including Coalesce Capital, led by Warburg Pincus alumnus Stephanie Geveda, which said in February that it closed on $900 million for its inaugural fund and parallel vehicles.

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