Dechert advised the management team of credit-focused investment management firm Triumph Capital Advisors, LLC, (“TCA”) in its acquisition by Pine Brook, an investment firm focused on building businesses in the financial services and energy sectors. Financial details of the acquisition were not disclosed. Pine Brook also provided a $250 million line of equity to Trinitas Capital Management, LLC (“TCM”). The transaction closed on June 20, 2017.
TCA, a wholly owned subsidiary of Triumph Bancorp., is the initial staff and services provider to two CLOs issued by TCM. Dechert also provided counsel to Board of Directors of TCM, a credit-focused investment management firm with an emphasis on investing in senior secured bank loans.
“This was a one of a kind transaction that involved complex M&A, CLO, corporate governance, employment and employee benefit issues,” said Gibran Mahmud, Chief Investment Officer of Trinitas Capital Management. “Throw in the implication of the new U.S. risk retention rules, and we were so thankful that we had Dechert on our side to help us negotiate all of these complex issues.”
The Dechert finance team advising TCM Board of Directors and TCA management team was led by global finance partner Sean Solis, and included partners Eric Rubin (Employee Benefits), Adam Rosenthal (Corporate), Joshua Milgrim (Tax) and Nicolle Jacoby (Litigation). Additional assistance provided by associates Joseph Trunzo (Global Finance), Sarah Burke (Employee Benefits), Jeffrey Rubin (Labor) and Peter Choung (Financial Services).
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