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Trinity Capital Announces Joint Venture

December 08, 2022, 07:36 AM
Filed Under: Equipment Finance News

Trinity Capital entered into an agreement to co-manage a newly formed joint venture, i40, LLC (the "JV"), with certain funds and accounts managed by a specialist credit manager with over $5 billion of assets under management. The JV will invest in loans and equipment financings to growth-stage companies that have been originated by Trinity.

The initial capital commitment to the JV is $171.4 million, consisting of a $21.4 million commitment from Trinity and a $150.0 million commitment from certain funds and accounts managed by the specialist credit manager. The JV intends to enter into a credit facility to leverage its assets in order to enhance returns and create additional deployment capacity.

"As an internally managed BDC, we are highly focused on return on equity for investors and growth that is accretive to our shareholders. Joint venture partnering and similar arrangements are key to achieving that goal, and this joint venture is just the beginning. We expect this new joint venture to enable us to grow our portfolio in a non-dilutive fashion, expanding our investment income and deal flow," said Kyle Brown, President and Chief Investment Officer at Trinity.

Trinity, an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth-stage companies.

For more equipment finance industry news, visit Equipment Finance Advisor.

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