Trivest Closes Largest Fund Ever at $1.3B

Trivest Partners closed Trivest Recognition Fund – its largest buyout fund ever – at its hard cap with over $1.3 billion of total capital commitments, which included Trivest and its affiliates’ commitments, that will seek to invest in lower middle market companies with EBITDA above $15 million.

Recognition is Trivest’s 12th institutional private equity fund and brings the Miami-based assets under management to approximately $5.5 billion.

The fund is 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. The firm plans to expand its reach in the U.S. and Canada.

“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,” said Trivest managing partner Troy D. Templeton.

Shannon Advisors acted as placement agent for the Fund and Kirkland & Ellis LLP served as fund counsel.