Trilantic North America has held a final hard cap closing of Trilantic Capital Partners VI (North America) LP and its parallel funds (together “Fund VI”) with $2.75 billion of capital commitments. The new fund’s original fundraising target was $2.25 billion.
More than three-quarters of the capital commitments of Fund VI are from existing investors and include public and private pension plans, insurance companies, corporations, endowments and foundations, family offices and high net worth individuals.
The firm’s earlier fund, Trilantic Capital Partners V (North America) LP closed in December 2013 with $2.2 billion in capital commitments. This fund was Trilantic North America’s first stand-alone fund following its emergence from Lehman Brothers Merchant Banking in 2009.
“As we honor Trilantic North America’s 10-year anniversary, we are proud to once again partner with a strong base of returning investors and to welcome new investors from the US and overseas,” said Charlie Ayres, chairman of Trilantic North America. “We will continue into the next decade investing in entrepreneurial and family- and founder-owned businesses, supporting exceptional management teams that offer products and services with high potential for growth.”
Fund VI has already closed on three portfolio companies with the buys of Sunbelt Transformer, a Temple, TX-based provider of new and remanufactured electrical power and distribution equipment, including transformers, switchgear and circuit breakers (June 2018); Taymax, based in Salem, NH, one of the largest Planet Fitness franchisees with 52 health clubs in the greater San Antonio, Nashville, Pittsburgh, Sacramento, Toronto and Ottawa regions (July 2018); and DJR Energy, a Denver, CO-based exploration and production company focused on developing oil and gas resources in the San Juan Basin of New Mexico (May 2017).
Trilantic North America makes control and significant minority investments in North America companies that have enterprise values of $100 million to $1 billion. Sectors of interest include business services, consumer, and energy. The firm was formed in 2009 by the former principals of Lehman Brothers Merchant Banking and currently manages six private equity funds with aggregate capital commitments of $9.6 billion. Trilantic North America is based in New York (www.trilanticnorthamerica.com).
© 2019 Private Equity Professional | July 23, 2019