New business to provide growth capital for
private-equity-backed companies
PHOENIX, May 7, 2024
/PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"
or the "Company"), a leading provider of diversified financial
solutions to growth-oriented companies, today announced the
expansion of its business with the addition of a new Sponsor
Finance vertical. This strategic expansion naturally extends the
Company's established expertise in providing direct lending
solutions to sponsor-backed companies across a range of
industries.
"We see the ability to leverage our market knowledge and
extensive networks to offer customized financing solutions to both
our evolving client base and new entrants in the market,
underscoring our dedication to supporting companies at every stage
of their growth journey," said Kyle
Brown, Chief Executive Officer of Trinity.
Spearheading Trinity's Sponsor Finance initiative is seasoned
industry veteran Chris Erro, joining
as a Senior Managing Director based in the firm's San Diego office. With over 20 years of
experience across the capital markets and corporate finance, Mr.
Erro has successfully managed and closed leveraged buyout
transactions totaling more than $2.5
billion. Joining him on the Sponsor Finance team are
Jorge Sandoval as Senior Managing
Director, Credit & Portfolio, and Will
Cook as Director, Credit & Portfolio.
"We are proud of Trinity's growth to date and are excited to
continue investing in our platform's capabilities to bring capital
solutions to even more companies," added Brown. "The establishment
of our Sponsor Finance vertical with the addition of Chris, Jorge,
and Will is a key step in our ongoing commitment to enhance the
Trinity platform comprehensively. In addition, we are significantly
investing in technology and infrastructure, alongside expanding our
team, to build a robust and scalable foundation for the long term.
This allows us to optimize our operations and capitalize on new
investment opportunities that offer substantial value to our
shareholders."
"I am thrilled to join Trinity to build out the firm's Sponsor
Finance capabilities as a complement to its established growth
capital platform," said Mr. Erro. "As the lending market continues
to diversify beyond traditional banks, the ability to provide
capital solutions to later-stage, private equity-backed companies
represents an exciting opportunity, and I look forward to working
with Trinity's talented team to bring the benefit of these
investments to the firm's shareholders."
"I am excited to be a part of the Trinity team and look forward
to contributing to their well-established and robust credit and
portfolio management processes and strategies," said Mr.
Sandoval.
Mr. Erro brings a wealth of experience from renowned firms in
the industry, most recently as a Senior Director in the Corporate
Finance group of Ally Bank, where he
cofounded the Technology Finance practice in 2015. Prior to
Ally Bank, Chris was an early team
member of Square 1 Bank, joining in 2006 shortly after the bank's
founding. Chris held multiple roles at Square 1 Bank, including
overseeing the Southern California
region for the bank and playing a senior role in the national
Structured Finance group.
Mr. Sandoval has over 20 years of experience in the financial
sector, most recently as the Senior Director in the Corporate
Finance group of Ally Bank, serving
as the Head of Underwriting and Portfolio Management for the
Technology Finance practice. Prior to this, he had direct
experience with deal origination, leading underwriting teams, and
portfolio management within the Sponsor Finance practice.
Previously, Mr. Sandoval was a principal at a private equity group,
serving on the boards of several portfolio companies. During this
time, he stepped into an operational role as the CFO of a portfolio
company. Early in his career, he held finance positions at GE
Capital, GMAC Financial Services, and Raytheon Missile Systems.
Mr. Cook comes from the Corporate Finance group of Ally Bank, where he spent seven years in
underwriting, document negotiation, credit analysis and portfolio
management of sponsor-backed, middle market companies, eventually
transitioning to the Technology Finance practice where he focused
on underwriting and portfolio management.
About Trinity Capital Inc.
Trinity Capital
Inc. (Nasdaq: TRIN), an internally managed business
development company, is a leading provider of diversified financial
solutions to growth-stage companies with institutional equity
investors. Trinity Capital's investment objective is to
generate current income and, to a lesser extent, capital
appreciation through investments, including term loans and
equipment financings and equity-related investments. Trinity
Capital believes it is one of only a select group of specialty
lenders that has the depth of knowledge, experience and track
record in lending to growth stage companies. For more information,
please visit the Company's website at www.trinitycap.com.
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SOURCE Trinity Capital Inc.