TriWest Closes its Fourth Fund at $350 Million
CALGARY, Alberta (May 31, 2012) – Building on its previous success, TriWest Capital Partners (“TriWest”) has closed its fourth fund (“Fund IV”) with commitments totaling $350 million. TriWest is pleased to have received continued support from its existing Limited Partners, together with new commitments from institutional investors in both Canada and the United States.
TriWest’s investment strategy for Fund IV will remain consistent with that of its previous three funds. Fund IV will make significant equity investments in profitable, mid-sized Canadian companies in partnership with existing management teams and will seek to generate superior financial returns through the pursuit of growth opportunities and a focus on operational excellence. Fund IV will invest in any industry with the exception of real estate, technology and primary resource development, and will target companies with operating earnings in the range of $10 million to $50 million (or higher in certain circumstances).
In conjunction with the closing of Fund IV, Chad Danard and Ryan Giles were both appointed Managing Directors, while Jon Spencer was promoted to Senior Associate and Dave Connolly was promoted to Associate.
Founded in 1998 and based in Calgary, Alberta, TriWest is one of Canada’s leading private equity firms. We have raised over $775 million in committed capital through four funds and have invested in 23 companies to date. These investments have involved the acquisition of market-leading companies through management buyouts, growth financings, corporate divestitures and other special situations. TriWest provides more than just capital. The principals of TriWest have significant operational and financial expertise, making us effective partners in creating shareholder value. More information on TriWest can be found at www.triwest.ca.