Trive Capital Secures $2.7 Billion for Fifth Sector-Flexible Investment Fund
Trive Capital, a private equity firm headquartered in Dallas, has completed the final closing of its fifth fund, amassing $2.7 billion in total commitments—surpassing its initial goal of $2.5 billion. The firm’s previous fund wrapped up in April 2022 with $2 billion raised.
Trive Capital Fund V will maintain the middle-market private equity firm’s flexible, sector-agnostic strategy while focusing on situation-specific investment opportunities.
The fund’s investors include the Los Angeles Fire and Police Pensions, which committed $25 million earlier this year, and the Florida State Board of Administration, which invested $100 million in 2024.
Fund V has already made seven investments. Over the last 12 months across all funds, Trive has executed 10 platform investments and 19 add-ons and completed three exits and dividend recapitalizations, most recently completing the successful IPO of Karman Space & Defense.
“We are excited to deploy Fund V and continue our strategy of identifying and investing in companies with strong growth potential,” said Chris Zugaro, co-founder and partner at Trive.
The firm manages more than $8 billion in assets.
Campbell Lutyens served as global placement agent, and Ropes & Gray acted as fund counsel.