Led by StepStone Group and Schroders Capital with additional commitments from new and existing investors
DALLAS, October 21, 2022 /PRNewswire/ — Trinity Hunt Partnersa growth-focused private equity firm, today announced the closing of its first continuation fund, raising capital to support the acquisitions of Argano and Improving, two leading technology services companies, from of Trinity Hunt Partners V, LP The continuation fund closed on $618 million of commitments, which includes a large reserve of capital for follow-on investments to support continued business growth.
Adam JohnstonePartner at StepStone said, “We seek to partner with the best sponsors to create solutions for their highest quality assets, and this transaction is a great example of both. We are delighted to strengthen our partnership with Trinity Hunt in a transaction that will support both companies in their continued value creation.”
During his tenure in Improving and Argano, Trinity Hunt worked to rapidly grow each business with a focus on organic growth, add-on acquisitions, and investments in people and culture. With additional financial support, Trinity Hunt will continue to seek to execute this growth strategy.
“The closing of our first continuation fund is an important milestone for Trinity Hunt,” said Blake Apel, Managing Partner. “We are extremely proud of the success these two leading companies have achieved so far through our partnerships, and the attractive returns we have been able to offer our existing investors. We believe there is additional value in these companies that can be unlocked with additional time and capital.”
“We are delighted to extend our partnership with Trinity Hunt and these two exceptional companies,” added David Gurynsenior investment director at Schroders Capital.
Credit Suisse acted as financial advisor and Kirkland & Ellis LLP as legal advisor to Trinity Hunt. Debevoise & Plimpton LLP provided legal advice to StepStone, while Proskauer provided legal advice to Schroders Capital. Terms were not disclosed.
Argano is a leading digital consultancy focused on optimizing clients’ operations by modernizing, integrating and automating their digital foundations, with capabilities including commerce, invoicing, enterprise resource planning, channel procurement, human capital, analytics, reporting and performance management. Argano serves more than 1,500 clients across all industries with a talent pool spanning 38 countries. For more information, visit argano.com.
Improving is a modern digital services organization focused on delivering impactful business solutions using the latest technologies. The company has an international presence with 16 offices across United States, Canadaand Mexico. To learn more about the improvement, visit improvement.com.
About Trinity Hunt Partners
Trinity Hunt Partners is a growth-focused middle-market private equity firm with over $1.5 billion of assets under management focused on building leading companies in the business, healthcare and consumer services sectors. Trinity Hunt has earned a reputation for providing the strategic, operational and financial capabilities needed to take entrepreneurial service businesses to the next level. For more information, visit www.trinityhunt.com.
About StepStone Group
StepStone Group Inc. is a global private markets investment firm focused on providing personalized investment solutions and advisory, data and administrative services to its clients. From June 30, 2022StepStone supervised about $588 billion allocations on private markets, of which approximately $137 billion of assets under management. StepStone partners with clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes. For more information, visit www.stepstonegroup.com.
About Schroders Capital
Schroders Capital offers investors access to a wide range of private asset investment opportunities, portfolio building blocks and customized private asset strategies. With about $88 billion of assets under management at June 30, 2022, Schroders Capital is focused on delivering the best risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions across all private market asset classes, through funds combinations and personalized private asset mandates. For more information, visit www.schroderscapital.com.
Trinity Hunt Partners
SOURCE Trinity Hunt Partners