Trive Capital has held final closings of Trive Capital Fund IV LP (Fund IV) and Structured Capital Fund I (SCF I) with an aggregate $1.95 billion of capital commitments. According to Trive, both of its new funds saw strong investor demand and closed at their respective hard caps of $1.6 billion and $350 million.
Trive invests from $10 million to $250 million of debt or equity in North America-headquartered companies with revenues of $40 million to $1.5 billion. The firm will selectively invest less than $10 million of debt or equity in smaller cap opportunities. Trive is industry-agnostic but has specific experience in aerospace and defense, automotive, building products, business services, chemicals, and consumer goods.
Trive was founded in 2012 by Managing Partner Conner Searcy and Partner Chris Zugaro and is headquartered in Dallas.
“We are grateful for our continued partnership with a supportive and diverse group of global institutional investors, and we are thrilled to welcome many new investors, who share our confidence in the value creation capabilities of Trive,” said Mr. Searcy. “In Fund IV and SCF I, our team will continue to invest in strategically viable middle-market businesses with the ability to tailor bespoke, creative solutions across the capital structure.”
“We believe Fund IV and SCF I drew strong interest from investors as a result of our deep value investing approach, quality of the Trive team, and our demonstrated success in deploying an operationally-focused investment strategy,” said Mr. Zugaro. “Our team’s consistent approach has yielded strong performance and meaningful value creation across the Trive portfolio. This continued to resonate with our investors in the recent fundraises. We look forward to continuing to execute this strategy as we further deploy Fund IV and SCF I.”
Trive’s newest funds were raised during a record-breaking period for the firm. In 2021, Trive acquired 5 new platform investments, completed 60 add-on investments, and closed 12 exits and dividend recapitalizations, which yielded over $1.2 billion in distributions to its investors. Trive’s current portfolio, across all of its funds, currently has 30 platform investments including 6 platform investments for Fund IV and SCF I.
© 2022 Private Equity Professional | April 26, 2022
