TriGuard Management has held the closing of its seventh private equity fund, Montauk TriGuard Fund VII, ahead of its USD600 million target with over USD660 million of commitments from over 180 investors, exceeding the USD500 million Fund VI in 2014.
Fund VII received strong backing from a diversified group of investors, including public and corporate pension plans, insurance companies, endowments, foundations, family offices and high net worth individuals.
Ronn Cornelius, co-managing partner, says: “We appreciate having a knowledgeable group of investors who are highly supportive of our unique investment strategy. We will remain disciplined and focused on delivering attractive returns for our investors.”
Samuel Tang, co-managing partner, adds: “We want to thank our existing consultants and investors for their strong support over many years, and we want to welcome a new group of high quality consultants and investors to Fund VII.”
TriGuard and its affiliates have raised over USD2.2 billion through seven dedicated secondary funds, and have established a global leadership position in providing liquidity solutions for interests in secondary funds, having selectively acquired 139 positions in 85 funds managed by 20 secondary fund managers.
Like its six predecessor funds, Fund VII will continue a differentiated investment strategy that is focused on underserved yet historically profitable niches, including acquiring limited partner interests in secondary funds, completing value-added carve-out transactions and closing out past-term secondary funds.
TriGuard’s service providers include Proskauer Rose, Silicon Valley Bank, Grant Thornton, Standish Management, KaufmanIT and Pacific Life.
