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Laxman Pai, Opalesque Asia:

Florida-based Trivest Partners has closed its seventh namesake fund on about $950 million and its second discovery fund on roughly $600 million.

According to a media release from the lower-middle-market firm that targets investments in founder- and family-owned businesses across the US and Canada, both funds - Trivest Fund VII and Trivest Discovery Fund II - were oversubscribed and the fundraising for each fund was substantially completed in a single closing.

Raised concurrently, Fund VII and Discovery II represent Trivest's tenth and eleventh institutional private equity funds and bring Trivest assets under management to more than $4.0 billion.

"Despite a crowded private equity fundraising market, Trivest received significant support from both its established investor base and a select group of new investors. Both funds include a diversified mix of limited partners including endowments, corporate and public pensions, insurance companies, funds of funds, family offices, and individuals, including more than 40 founders and CEOs of former Trivest investments," said the company.

Trivest provides "Private Equity for Founders" across the U.S. and Canada, the release said. In 2021, the Firm enjoyed its most active year in its over 40-year history, investing in 52 founder-owned businesses, deploying over $275 million of capital, and growing its team to more than 60 professionals. Trivest is one of just 15 firms recognized by Inc Magazine......................

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