Tryperion Holdings, a commercial real estate investment firm specializing in equity and credit opportunities within the U.S. middle market, has announced the final closing of Tryperion RE Fund IV (TREF IV), with a total capital commitment of $163 million.
TREF IV has significantly exceeded the $67 million deployed in Tryperion’s prior fund. So far, 72% of TREF IV has already been committed to commercial real estate equity and credit investments in office, retail, medical office, student housing, multifamily, and industrial assets.
Tryperion’s earliest funds, TREF I (2013 vintage) and TREF II (2015 vintage) – which are both fully realized – were ranked in the top quartiles of fund performance as measured by the Cambridge Associates Index, along with TREF III (2018 vintage), although it is not yet fully realized.
The investors in TREF IV include a top 20 university endowment located in the Southeast, the family offices of notable investment industry veterans Howard Marks, Tony Ressler, and Ken Moelis, as well as Andrew & Peggy Cherng, founders of Panda Express.
KEY QUOTE:
“Tryperion is unafraid to invest in less-loved opportunities, where institutional capital may shy away. Our value-investor approach has served our fund investors well across market cycles. The Tryperion team brings a sophisticated institutional approach to the fragmented world of sub-institutional investing.”
Jeffrey Karsh, Founder and Managing Partner of Tryperion
