|Dallas Law Firm Munck Wilson Mandala Atttorney Randall Ray quoted in The Dallas Business Journal article |
New firm Trive Capital seeks $250 million fund
|October 19, 2012 11:55 pm|
The Dallas Business Journal:
A trio of former officials of Southlake's Insight Equity is raising a $250 million fund for their new Dallas private equity firm.
Led by managing partner Conner Searcy, Trive Capital LLC will invest in middle market companies that either lack the resources to perform at their best or which otherwise have experienced operating difficulties.
Although Trive will cut equity checks of $7 million to $30 million for purchases (not including separate debt financing), Searcy and company are looking to add more than money by rolling up their sleeves and helping their portfolio companies get back on track.
Founded in June, Trive has made one investment thus far, even though its task of raising its fund isn't complete. Using capital garnered from their relationships with investors — including some that have committed to Trive's fund — Searcy and his team in the third quarter put $25 million of equity into Memphis, Tenn.-based Southern Towing Co. Inc., a transporter of fertilizer and other products along inland waterways of the United States.
"The economy isn't as robust as everyone wants it to be," said Ray, whose firm isn't affiliated with Trive. There are companies "that are stressed for new capital, and that need that additional management expertise to turn the business around."
© 2012 American City Business Journals
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