Triton unveils €500m debt fund

The private equity firm has closed its first dedicated debt fund at €500m

Jersey-headquartered private equity firm Triton has closed its first dedicated debt fund on its hard cap of €500 million, according to a statement.

Fundraising for Triton Debt Opportunities (TDO) began in September 2013 and has attracted investment well in excess of its €350 million target.

The fund will focus on investing in non-control positions of companies in Northern Europe experiencing difficulties – many of which have been known to Triton over several years – typically through loans or bonds.

“TDO will seek to invest in businesses that are facing challenges created by excess leverage or cyclical operational or other headwinds,” the statement read.

The strategy is to “build on the debt investing experience gained in prior funds,” the firm said.

TDO has the backing of Triton’s existing investors as well as a number of new ones. Approximately 58 percent of commitments are from North America, 34 percent from Europe and 8 percent from the rest of the world.

Triton’s funds invest in medium-sized businesses headquartered in Northern Europe, particularly in Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. The firm also specialises in companies which operate in the industrial, business services and consumer/health sectors.