Triton Debt Opportunities (TDO) II – committed capital of €744m
We primarily invest in loans and bonds and provide rescue financing
- Triton's dedicated debt investment vehicle, the Triton Debt Opportunities Fund (TDO), has successfully completed its fundraising of TDO II 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.
- The Fund invests primarily in non-control debt positions in mid-market companies across the capital structure, with its average investment size typically between €10-40 million with the intention to hold for 18 to 36 months and exit at par, through a refinancing, maturity repayment, disposal, debt renegotiation, asset sale or company sale. Through TDO Triton seeks to invest in and provide rescue financing for businesses where lenders are motivated to sell or where the businesses are facing challenges created by excess leverage or cyclical, operational and other headwinds.
- Triton has significant experience in investing in debt situations and since 2009 has invested in the debt of more than 100 companies. Whilst the first debt investments were made out of Triton’s Private Equity Fund Triton III, the first stand-alone and debt-focused fund TDO I was raised in 2014 with external commitments of €500 million, surpassing the €350 million target size and reaching the hard cap. TDO I has now been successfully invested and the strategy was continued with the successor fund TDO II.