Trivest Partners collected $415 million for its latest fund. Trivest Fund V came in above its original target of $325 million and accepted commitments up to its $400 million cap. The additional $15 million came from Trivest’s partners. Shannon Advisors acted as placement agent while Greenberg Traurig provided legal advice.
Trivest Partners (“Trivest” or the “Firm”), a Miami-based private equity firm, announced the final closing of Trivest Fund V with $415 million of total equity capital commitments. Due to strong support from existing investors and significant demand from new limited partners, Trivest Fund V surpassed its original target of $325 million and accepted commitments up to its cap of $400 million. The additional $15 million represents capital from the partners at Trivest. The Fund includes a diversified mix of limited partners including endowments, corporate and public pensions, insurance companies, fund of funds, family offices and individuals.
The Firm is also pleased to announce the promotions of Forest Wester, Russ Wilson and David Gershman to Partner. Forest Wester and Russ Wilson joined Trivest as Vice Presidents in 2005 and 2006, respectively. David Gershman started at the Firm in 2002 as General Counsel and will continue to lead all legal functions at Trivest. All three individuals have been instrumental in Trivest’s success over the years and will join Troy Templeton, Jamie Elias and Chip Vandenberg in leadership roles in Fund V. The Firm also expanded its ranks with the recent hire of Anuj Singh as Vice President.
“We are extremely pleased with the results of our fundraising efforts,” said Troy Templeton, Trivest’s Managing Partner. “Our time tested investment strategy, centered on becoming the first institutional owner and partner of choice for Founder/Family-owned businesses, brings a high level of differentiation to the market. These traits contributed to very strong investor demand for Fund V. In addition, we are very pleased to welcome Forest, Russ and David into the Partnership.”
Fund V will continue to execute Trivest’s successful strategy of acquiring growing, profitable Founder/Family-owned businesses in North America with a preference for companies located in the Southeastern U.S. Through its creative deal sourcing initiatives, Trivest acquires well run manufacturing/distribution, business services and consumer companies. Post acquisition, Trivest drives cash flow growth by providing its portfolio companies with access to the firm’s value enhancement initiatives which are uniquely tailored to Founder/Family-owned businesses.
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 North America. Since the firm’s founding over 31 years ago, Trivest has completed 185 transactions, totaling in excess of $4.8 billion in value. For additional information, please visit www.trivest.com.