Trivest Partners has held a final closing of Trivest Fund V with $415 million of total equity capital commitments, $90 million above its original target of $325 million. Fund V will continue to execute Trivest’s strategy of acquiring growing and profitable founder or family-owned businesses in North America with a preference for companies located in the Southeastern US.
Due to strong support from existing investors and significant demand from new limited partners, Trivest Fund V surpassed its original target of $325 million and accepted commitments up to its cap of $400 million. The additional $15 million represents capital from the partners at Trivest.
Shannon Advisors acted as placement agent for the fund and Greenberg Traurig served as fund counsel.
In tandem with the final close, the firm has promoted Forest Wester, Russ Wilson and David Gershman to Partner. Mr. Wester and Mr. Wilson joined Trivest as Vice Presidents in 2005 and 2006, respectively. Mr. Gershman started at the Firm in 2002 as General Counsel and will continue to lead all legal functions at Trivest. All three individuals have been instrumental in Trivest’s success over the years and will join Troy Templeton, Jamie Elias and Chip Vandenberg in leadership roles in Fund V. The firm also expanded its ranks with the recent hire of Anuj Singh as Vice President.
“We are extremely pleased with the results of our fundraising efforts,” said Troy Templeton, Trivest’s Managing Partner. “Our time tested investment strategy, centered on becoming the first institutional owner and partner of choice for founder or family-owned businesses, brings a high level of differentiation to the market. These traits contributed to very strong investor demand for Fund V. In addition, we are very pleased to welcome Forest, Russ and David into the partnership.”
Trivest Partners provides equity for lower middle-market corporate acquisitions, recapitalizations and growth capital financings in the US and Canada. Sectors of interest include manufacturing, distribution, business services and consumer companies. Since its founding in 1981, Trivest has completed more than 185 transactions, totaling nearly $4.8 billion in value. The firm is located in Coral Gables, FL (www.trivest.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-2-12