TRP Capital Partners collects $83m for Fund V


Transport-focused TRP Capital Partners has raised over $83m in capital commitments for its fifth buyout fund.

TRP Capital Partners V has secured capital commitments from 32 limited partners according to an SEC filing submitted this week. The firm did not include a target for the fund in the documents.

AltAssets reported in 2016 that the Michigan-based firm raised close to $110m for its previous private equity fund, although no target or hard cap were specified in an SEC filing for the vehicle.

The firm has not publicly revealed a final close for the fund.

The mid-market buyout investor typically commits between $25m and $250m per deal, focused primarily on investments in dealerships and services, education and training, outsourced services, niche manufacturing, distribution, logistics and supply chain.

TRP has completed 26 platform investments since launch including truck rental company Flex Fleet Rental, used car dealership group CarLotz and tire replacement service Tire Group International.

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