TriSpan has closed a single‑asset continuation vehicle to support the next phase of growth for Maman, the fast‑growing café‑bakery and lifestyle brand that has expanded rapidly across the United States and Canada. The transaction was led by Kline Hill Partners, with participation from Norwest and a major Ivy League endowment, and provides liquidity to existing investors while positioning the company for broader national and international expansion.
Kline Hill manages over $7.5 billion in assets, reflecting the level of institutional confidence behind the deal and the long‑term potential of Maman’s business model.
Maman has grown from a New York City café into a national lifestyle brand with 56 locations across nine U.S. states and Canada. Since TriSpan’s initial investment in 2020, the company has built a strong presence in the premium café‑bakery category, emphasizing artisanal craft, warm design, and a community‑driven identity. The continuation vehicle reinforces TriSpan’s conviction in the brand and its belief that Maman has significant runway for expansion through its company‑owned model and a robust development pipeline.
TriSpan highlighted Maman as a prime example of the type of concept it targets through its Rising Stars strategy, which focuses on differentiated, high‑growth restaurant platforms. The firm emphasized the strength of Maman’s founding team, its distinctive positioning, and the operational consistency that has helped the brand scale while maintaining a loyal customer base. The new investor group, led by Kline Hill, reflects growing institutional interest in the café‑bakery category and in Maman’s potential to become a national leader.
The transaction also marks the second collaboration between TriSpan and Kline Hill, further strengthening the relationship between the two firms. With a strong development pipeline and a focus on high‑quality execution, Maman is preparing for continued expansion across major markets. The continuation vehicle provides the capital and strategic alignment needed to support that growth while enabling existing investors to realize liquidity from the company’s performance to date.
KEY QUOTES:
“From our first café in SoHo to where we are today, the goal has always been to build something that resonates with our guests and our community. TriSpan has been an exceptional partner in that journey, and we’re excited to continue building together as we scale Maman across the country and beyond.”
Benjamin Sormonte, co‑founder and CEO of Maman
“Maman represents exactly the kind of platform we set out to build with our Rising Stars strategy: a differentiated brand, a strong founding team, and a long runway for growth. We’re thrilled to extend our partnership with Ben, Elisa, and the outstanding management team. This transaction underscores our conviction in the concept and the opportunity ahead.”
Anthony Freijy, Partner and Head of TriSpan Rising Stars U.S.
“We’re pleased to partner with a high‑quality group of institutional investors, led by Kline Hill and supported by Norwest as a key syndicate investor. This marks our second transaction with Kline Hill, who shares our conviction in Maman’s positioning and long‑term potential. This transaction reflects the strong alignment between TriSpan, our investors, and management as we continue building one of the most compelling concepts in the sector.”
Elan Schultz, Co‑Founding Partner of TriSpan
