Fundraising

Trinitas halfway on $250m Fund IV target

The Silicon Valley-based private equity and real estate firm – whose assets include more than 7,000 acres of California almond orchards – is raising its fourth agriculture-focused fund.

-

Trinitas Partners has raised $130 million of the $250 million it’s targeting for its ‘Trinitas Advantaged Agriculture Partners IV’ fund, according to a regulatory filing with the US Securities and Exchange Commission. The filing suggests the fund has one anchor investor so far.

California-based Trinitas could not be reached for immediate comment.

The firm, whose Trinitas Farming division operates substantial acreage in California’s almond industry, has hired placement agent TPG Capital BD, an affiliate of global private equity firm TPG. The fund’s minimum commitment size was listed at $10 million; estimated placement fees were expected to be $1.4 million, according to the filing.

Specific details on Trintas’ prior agriculture-related fundraising efforts could not be determined at press time.

Kirk Hoiberg, a former senior managing director within CB Richards Ellis’ (CBRE) global corporate services business unit, is listed as director on the filing and is one of the firm’s three principals. The others are Bill Hooper, a hospitality industry veteran, and Ryon Paton, another former CBRE senior executive, according to the firm’s website.

Hoiberg has previously spent time with local California media explaining the firm’s approach to agriculture and why it focuses on almonds. Click below to watch Hoiberg’s interview with the Modesto Bee.