Trivest Partners (“Trivest” or the “Firm”) announced the closing of Trivest Growth Investment Fund III (“TGIF III” or the “Fund”) at $730 million of total capital commitments (including Trivest and its affiliates’ commitments). TGIF III was meaningfully oversubscribed primarily due to the strong support of Trivest’s current investor base and was largely completed in a single close, less than 60 days from initial launch. The limited partners for the Fund include endowments, corporate pensions, insurance companies, funds of funds, family offices and individuals. TGIF III represents Trivest’s thirteenth institutional private equity fund and brings Trivest assets under management to approximately $6.1 billion following TGIF III’s closing.
Trivest focuses on providing “Private Equity for Founders” across the United States and Canada. The Firm has refined a disciplined strategy focused on investing in high quality, growth-oriented, lower middle market businesses. Trivest actively employs established processes, including its systematic Path to 3x value creation methodology to drive investment returns for its stakeholders. The Firm and its team of more than 95 professionals is highly active, closing more than 180 new investments and exits over the past three years.
TGIF III is Trivest’s third and largest fund focused on non-control investments in founder/family-owned businesses. TGIF offers a differentiated approach for founders/families seeking a growth partner. TGIF III is expected to provide Trivest with the opportunity to expand the Firm’s reach and capabilities to even more founder/family-owned businesses across North America.
“TGIF was Trivest’s first fund extension eight years ago and since that time it has become clear that our differentiated approach to non-control investing, stressing simplicity, is a large opportunity for our Firm. We are extremely gratified and thankful for the level of support from Trivest’s limited partners in this most recent fundraise. With four different investment approaches now under the Trivest brand, we believe the breadth of solutions we can provide founders is extensive,” says Jamie Elias, Managing Partner and leader of Trivest’s non-control investment funds.
“With TGIF III, we are excited to forge new partnerships and expand our impressive portfolio of fast-growing businesses, backed by Trivest’s established value enhancement initiatives,” says Amir Mirheydar, Partner, who co-leads the Fund’s investment activities with the support of a dedicated internal team.
Shannon Advisors acted as placement agent for the Fund and Kirkland & Ellis LLP served as fund counsel.
