The transaction will provide capital to allow Trivest to continue to invest in its employees and growth initiatives while having no impact on the day-to-day management of the firm. As the equity interest is non-voting, the firm’s investment and decision-making processes will remain unchanged. Additional terms of the investment were not disclosed.
Founded in 1981 and based in Coral Gables, Florida, Trivest is the oldest private equity firm in the Southeastern United States. With approximately $2.5 billion in assets under management across three strategies, the Firm has become a premier platform focused exclusively on the support and growth of founder and family-owned businesses throughout the United States and Canada within the middle market.
“This transaction allows us to build a capital base to continue to invest in our employees and be significant investors across our platform. We find Bonaccord’s strategic approach and similar culture to represent the ideal profile as a long-term partner in supporting our firm. This investment is also a great opportunity for us to expand our long-standing relationship with P10 and its affiliates. We look forward to our partnership with Bonaccord as we continue to grow,” said Troy Templeton, Managing Partner of Trivest Partners.
“Trivest has established a best-in-class platform focusing on founder and family-owned businesses. Their reputation, investment approach and exceptional track record of returns to investors positions them well for continued long-term success. We are excited to deepen our relationship with Trivest through this strategic investment and look forward to our partnership in the coming years,” said Ajay Chitkara, Managing Partner of Bonaccord.
Berkshire Global Advisors advised Trivest on the transaction. Kirkland & Ellis LLP served as legal counsel to Trivest. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal counsel to Bonaccord.
About Trivest Partners
Trivest Partners LP, with offices in Miami, Charlotte, Chicago, Los Angeles, New York, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 350 investments, totaling over $7 billion in value. Trivest is one of only 15 firms to be recognized by Inc. Magazine as one of the top founder-friendly private equity firms for three consecutive years. For more information, please visit www.trivest.com.
Bonaccord focuses on making strategic minority investments in leading mid-sized alternative asset managers across private equity, private credit, real estate and real assets globally. Bonaccord’s minority investments support the creation of long-term strategic value for these leading managers enhanced by leveraging Bonaccord’s strategic development capabilities and broader global network. Bonaccord is a subsidiary of P10, Inc.
P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of September 30, 2021, P10 has a global investor base of over 2,400 investors across 46 states, 29 countries and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions and financial institutions. Visit www.p10alts.com.
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