Triton Debt Opportunities (TDO) – the opportunistic credit arm of European investment firm Triton – announced the final close of its third fund (TDO III) over its €1 billion fundraising target. TDO III is 40% larger than its predecessor fund, which closed at €744 million in October 2020.
TDO III invests opportunistically in the credit of mid-market European companies, primarily in Triton’s core sectors of Business Services, Industrial Tech, and Healthcare. And it focuses on pull-to-par investments in senior secured non-control debt of fundamentally sound companies facing temporary headwinds, via the secondary market. It also provides primary and asset-backed lending on an opportunistic basis.
TDO’s 13-strong team benefits from the resources, sector knowledge, and network of Triton’s wider platform. And this includes the wide-ranging expertise from Triton’s private equity investment team, and the 65 operational experts and functional specialists from West Park – Triton’s dedicated returns generation unit.
TDO III has secured capital commitments from a diverse base of existing and new investors from around the world, including pension funds, sovereign wealth funds, foundations, family offices and insurance companies.
TDO III has already invested €500 million across 20+ investments with realised value of more than €150 million.
KEY QUOTE:
“We thank all our new and existing investors for their support. TDO III has been raised at an exciting time that is rich in opportunities as the European leverage finance market continues its rapid growth and conditions are favourable for opportunistic debt investing. With our differentiated sourcing capability, proven investment approach and ability to draw on the strengths of the wider Triton platform, TDO III is strongly positioned to benefit from these trends.”
– Amyn Pesnani, Managing Partner, Head of Triton Debt Opportunities
