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Adviser Profile

As of Date 07/23/2024
Adviser Type - Large advisory firm
Number of Employees 86 30.30%
of those in investment advisory functions 45
Registration SEC, Approved, 3/30/2012
AUM* 5,646,516,904 20.28%
of that, discretionary 5,646,516,904 20.28%
Private Fund GAV* 5,646,516,904 20.28%
Avg Account Size 403,322,636 20.28%
SMA’s No
Private Funds 14
Contact Info 305 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
5B 4B 3B 3B 2B 1B 671M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypePrivate Equity Fund Count14 GAV$5,646,516,904

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Brochure Summary

Overview

A. Founded in 1981, Trivest Partners1 is the oldest private equity firm in the Southeastern United States. Trivest Investment Advisors, LLC (the “Filing Adviser”) and its affiliates provide investment advisory services to various private partnerships and other private investment vehicles (each, a “Fund” or a “Client”).2 Interests in the Funds are offered only to qualified investors via a private offering. An affiliate of Trivest generally serves as the general partner (or similar managing body) of each Fund. The Firm is run by its Managing Partners, Jon E. Elias, David Gershman, Jorge A. Gross, Jr., Troy D. Templeton, Forest T. Wester and A. Russ Wilson and Partners, Brian Connell, Todd Jerles, Amir Mirheydar and Steve Reynolds. B. Trivest and its affiliates serve as the investment management advisers with discretionary trading authority to private pooled investment vehicles that are offered to investors on a private placement basis (each, a “Fund” and collectively, the “Funds”). The Funds include:
• Trivest Recognition Fund, L.P., Trivest Recognition Fund-A, L.P. and Trivest Recognition Fund-B, L.P., each a Delaware limited partnership (collectively, “Recognition I”)
• Trivest Fund V, L.P., a Delaware limited partnership (“Fund V”)
• Trivest Growth Investment Fund, L.P., a Delaware limited partnership (“TGIF”)
• Trivest Fund VI, L.P., a Delaware limited partnership (“Fund VI”)
• Trivest Fund VII, L.P., Trivest Fund VII-A, L.P. and Trivest Fund VII-B, L.P., each a Delaware limited partnership (collectively, “Fund VII”)
• Trivest Growth Investment Fund II, L.P., a Delaware limited partnership (“TGIF II”)
• Trivest Discovery Fund, L.P., a Delaware limited partnership (“TDF”)
• Trivest Discovery Fund II, L.P., Trivest Discovery Fund II-A, L.P. and Trivest Discovery Fund II-B, L.P., each a Delaware limited partnership (collectively, “TDF II”) The investment management advisers to the Funds include:
• Trivest Partners V, L.P., a Delaware limited partnership (“Trivest V”), under common control that acts as the adviser to Fund V. 1 “Trivest Partners”, “Trivest” and/or the “Firm” does not refer to any one entity but is the name by which Trivest Investment Advisors, LLC and its affiliates are known. 2 “Fund” or “Client” means any fund for which Trivest provides investment advice under an investment management agreement set forth in such investment vehicle’s governing documents on a discretionary basis. The investors and other persons who invest in the Trivest-sponsored investment vehicles are generally referred to herein as “investors.” Unless otherwise expressly stated herein, the terms “Fund” and “Client” do not include “investors.”
• Trivest Growth Partners, L.P., a Delaware limited partnership (“Trivest Growth Partners”), under common control acts as the adviser to TGIF.

• Trivest Partners VI, L.P., a Delaware limited partnership (“Trivest VI”), under common control acts as the adviser to Fund VI.
• Trivest Partners Management, LLC, a Delaware limited liability company (“TPM”), under common control acts as an adviser to Fund VII, TGIF II, TDF, TDF II and Recognition I. Trivest V, Trivest Growth Partners, Trivest VI and TPM are referred to herein collectively as the “Relying Advisers.” The Filing Adviser and the Relying Advisers are under common control, as well as the general partners of the Funds, conduct a single advisory business and are registered with the SEC as part of a single registration. All investment advisory activities of the Filing Adviser and the Relying Advisers are subject to the Investment Advisers Act of 1940, as amended (the “Advisers Act”) and the rules thereunder, and any persons acting on behalf of the Filing Adviser or the Relying Advisers are subject to the supervision and control of the Filing Adviser with respect to any such investment advisory activities. C. Trivest provides discretionary advisory services that generally seek to generate long-term capital appreciation by making privately negotiated control and non-control growth investments in lower middle-market founder and/or family-owned (“Founder-Owned”) businesses (each a “Portfolio Company,” and collectively, the “Portfolio Companies”) across North America. Trivest’s investment advisory services include identifying, evaluating, structuring, and negotiating prospective investments; managing Portfolio Companies post-acquisition; and advising the Funds with respect to disposition opportunities for its Portfolio Companies. Through its creative deal sourcing initiatives, Trivest acquires profitable manufacturing, distribution, business services, healthcare and consumer companies at what it believes are attractive valuations. Trivest does not manage Client assets on a non-discretionary basis. The Firm’s advisory services also are subject to Client investment objectives and guidelines. Each Fund has a set of specific guidelines that are set forth in the governing and offering documents of the applicable Fund. These guidelines may impose restrictions on investing in certain businesses or types of securities, such as limits on the size, concentration, geography, type of security, type of business, and/or terms of the Fund’s investments. The Funds or the general partners have entered into side letters or other similar agreements (“side letters”) with certain investors that have the effect of establishing rights under, or altering or supplementing the terms (including economic or other terms) of, the governing documents with respect to such investors. Trivest does not provide investment advice to the individual investors in the Funds. D. Trivest does not participate in any sponsor wrap fee programs. E. As of December 31, 2023, Trivest managed approximately $5,646,516,904 on a discretionary basis.