Miami, FL – (July 5, 2016) Trivest Partners (“Trivest” or the “Firm”) announced the first and final closing of the Trivest Growth Investment Fund (“TGIF”) with $225 million of total equity capital commitments. TGIF is Trivest’s eleventh overall fund, sixth institutional fund and fourth fund focused on founder/family-owned investments. TGIF will target growth and non-control investments among founder-owned businesses.
Due to strong support from Trivest’s existing investors, plus a few new limited partners, TGIF more than doubled its original target of $100 million. The Fund includes a diversified mix of limited partners including endowments, corporate and public pensions, insurance companies, fund of funds, family offices and individuals. Additionally, the partners of Trivest have committed to invest substantial capital alongside TGIF.
Over the past decade, Trivest has asserted its position as “Private Equity for Founders”™ across North America. With that recognition, the Firm continues to see an ever increasing number of investment opportunities from business brokers, lawyers, accountants and others. TGIF represents a natural evolution of the Firm’s development and expansion and will enable Trivest to tap into a significant, increasing number of investment opportunities previously not addressable from the Firm’s traditional buyout funds.
“We are extremely pleased with the results of our fundraising and look forward to investing TGIF,” said Troy Templeton, Trivest’s Managing Partner. “We believe TGIF should be an attractive investment opportunity that will benefit from a number of key drivers, including the large number of founder/family-owned businesses with a limited amount of institutional capital targeted to investing in growth and non-control situations, an excellent risk/return profile that has been demonstrated in the market from growth equity investments and consistent value creation opportunities.”
To strengthen Trivest’s efforts in sourcing, due diligence and value creation for TGIF, earlier this year the Firm added Greg Baty as a partner. Greg has longtime ties to Florida and has extensive experience with leading and structuring growth and non-control investments. Most recently, while at Hamilton Lane, Greg helped establish and lead the Florida Growth Fund (“FGF”) for the Florida State Board of Administration. Under Greg’s leadership, the FGF grew to $750 million in assets under management and completed 34 direct, growth and non-control investments.
Shannon Advisors acted as placement agent for the Fund and Greenberg Traurig served as fund counsel.
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 225 transactions, totaling in excess of $5.5 billion in value. For more information, visit www.trivest.com.
