MIAMI — Trivest Partners (“Trivest” or the “Firm”) announced the closing of Trivest Recognition Fund (“Recognition” or the “Fund”) at its hard cap with over $1.3 billion of total capital commitments (including Trivest and its affiliates’ commitments) that will seek to generally invest in platform companies with EBITDA above $15 million. Despite a crowded private equity fundraising market, Trivest received significant support from both its established investor base and a number of new investors. The Fund includes a diversified mix of limited partners including endowments, corporate and public pensions, insurance companies, funds of funds, family offices and individuals, including more than 40 founders and CEOs of current and former Trivest investments. Recognition represents Trivest’s twelfth institutional private equity fund and brings Trivest assets under management to approximately $5.5 billion.
Trivest provides “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 deal sourcing techniques, including its Just Say No program and systematic Path to 3x value creation methodology in an effort to drive investment returns for its stakeholders. Most importantly, Trivest seeks to “build great businesses, one business at a time.” The Firm and its team of more than 85 professionals is highly active, closing more than 250 new investments and exits over the past five years.
Recognition is Trivest’s largest buyout fund to date focused on control investments in founder and family-owned businesses. Its first investment in Perricone Juices closed in December 2022 and several others are currently in the pipeline. Recognition provides Trivest with a new opportunity to expand the Firm’s reach and capabilities to even more businesses in the U.S. and Canada.
“Trivest’s transparent approach to investing has resonated with founder and family-owned businesses for more than 40 years. Recognition Fund is named for the fact that we recognize the accomplishments of founders who have built sizable businesses, and we appreciate their sacrifice in doing so. We look forward to using Trivest’s considerable resources to assist these great businesses in realizing their next phase of growth and development,” says managing partner Jorge Gross, Jr., who leads the Fund’s investment activities with the support of a dedicated internal team.
“We couldn’t be more pleased with the support we received from all of the Recognition Fund investors,” said Trivest managing partner Troy D. Templeton. “Achieving our hard cap during one of the most challenging fundraising markets in history is a testament to what our team has built over the past four decades at Trivest. We believe our strategy is truly differentiated. Now with four differentiated investment approaches under the Trivest banner, we believe the breadth of solutions and flexibility we can provide founders is comprehensive.”
Shannon Advisors acted as placement agent for the Fund and Kirkland & Ellis LLP served as fund counsel.
