Trivest Partners has held a first and final closing of Trivest Fund VI LP with $600 million of capital commitments.
Fund VI is Trivest’s twelfth overall fund, seventh institutional fund and fifth fund focused on founder/family-owned investments. Fund VI was backed by many of Trivest’s existing investors and the limited partners include endowments, corporate and public pensions, insurance companies, funds of funds, family offices and individuals. Additionally, the partners of Trivest have committed to invest substantial capital in Fund VI.
“We are extremely pleased with the results of our fundraising efforts,” said Troy Templeton, Trivest’s Managing Partner. “It is clear that Trivest’s differentiated strategy is resonating with both business owners and limited partners. The number of founders seeking sound advice for the future of their businesses is growing.”
Trivest seeks to be the first institutional investor in its platform investments, which it has achieved over 100 times since 2000. In the vast majority of these instances, the founders and CEOs of these businesses reinvested alongside Trivest. The firm makes control and non-control investments in founder or family-owned businesses in the United States and Canada that have revenues of at least $25 million and cash flows of at least $5 million. Sectors of interest include manufacturing, distribution, business and healthcare services, and consumer industries. In July 2016, Trivest closed the Trivest Growth Investment Fund LP (TGIF) with $225 million of total capital commitments. TGIF is used by the firm to make its growth and non-control investments.
“With Fund VI for control investments and TGIF for growth and non-control opportunities, Trivest can provide a full spectrum of investment solutions,” added Mr. Templeton. Trivest has not yet acquired any portfolio companies for Fund VI.
Shannon Advisors was the placement agent for Fund VI and Greenberg Traurig served as legal counsel.
Trivest is headquartered near Miami in Coral Gables, FL (www.trivest.com).
© 2017 Private Equity Professional | September 28, 2017