Triton Debt Opportunities II fund closes at €744 million.

Jersey/ London — Triton Debt Oppor­tu­ni­ties II (“TDO II” or “the Fund”) has successfully comple­ted its fund­rai­sing with commit­ments of €744 million, signi­fi­cantly surpas­sing its target size of €550 million. TDO II recei­ved strong support from exis­ting inves­tors and has secu­red considera­ble commit­ments from a range of insti­tu­tio­nal inves­tors from around the world, in parti­cu­lar from Euro­pean and US pension funds. In addi­tion, Triton has also raised a Sepa­ra­tely Mana­ged Account which will serve as an over­flow account for the Fund.

TDO II opera­tes an all-weather approach to inves­t­ing, using its unique sourcing network to find attrac­tive invest­ments at healthy prices. The Fund was ther­e­fore well posi­tio­ned to deploy capi­tal throug­hout 2020, during which time there has been signi­fi­cant price dislo­ca­tion, and it is now 40% invested.

TDO II conti­nues to see a strong pipe­line of acti­vity and anti­ci­pa­tes considera­ble oppor­tu­nity to invest further during the market’s reco­very phase. TDO II will conti­nue to invest in the same sectors and geogra­phies as Triton’s private equity funds, focu­sing on the indus­tri­als, busi­ness services, consu­mer and health sectors, across the Nordics, DACH and Benelux.

The Fund invests in non-control posi­ti­ons across the capi­tal struc­ture in mid-market compa­nies, with its average invest­ment size typi­cally between €10–40 million. The TDO funds bene­fit from a unique advan­tage through their access to the wider Triton network, enab­ling them to tap into signi­fi­cant resour­ces and know­ledge, specia­list sector insight, and support from the firm’s invest­ment advi­sory network, opera­ting part­ners, senior indus­try experts and banking relationships.

Amyn Pesnani, Head of TDO, said: “We are extre­mely plea­sed to have been supported by a range of new and exis­ting inves­tors and we would like to extend our thanks for their commit­ment to TDO II. Our flexi­ble invest­ment approach, support from the wider Triton plat­form and stra­tegy of iden­ti­fy­ing underva­lued busi­nesses has allo­wed us to alre­ady put capi­tal to work this year, making the most of the current market condi­ti­ons, and we conti­nue to see a healthy pipe­line of exci­ting oppor­tu­ni­ties ahead.”

About Triton
Since its estab­lish­ment in 1997, Triton has spon­so­red ten funds, focu­sing on busi­nesses in the indus­trial, busi­ness services, consu­mer and health sectors. The Triton funds invest in and support the posi­tive deve­lo­p­ment of medium-sized busi­nesses head­quar­te­red in Europe. Triton seeks to contri­bute to the buil­ding of better busi­nesses for the longer term. Triton and its execu­ti­ves wish to be agents of posi­tive change towards sustainable opera­tio­nal impro­ve­ments and growth. The 44 compa­nies curr­ently in Triton’s port­fo­lio have combi­ned sales of around €18 billion and around 99,300 employees.