Publicly traded Trinity Capital has formed a new sponsor finance vertical and added three new professionals to its team to staff the new strategy.
Trinity Capital (NASDAQ: TRIN) is a provider of a range of financial services to growth-stage companies that have institutional equity investors. The firm’s objectives, across all its investment strategies, are to generate current income and capital appreciation through term loans and equipment financings, and equity-related investments.
Joining Trinity to launch the new strategy are Chris Erro as Senior Managing Director based in the firm’s San Diego office; Jorge Sandoval as Senior Managing Director, Credit & Portfolio; and Will Cook as Director, Credit & Portfolio.
Prior to joining Trinity, Mr. Erro was a senior director in the corporate finance group of Ally Bank, where he co-founded the firm’s technology finance practice in 2015. Earlier in his career, he was a team member of Durham, North Carolina-based Square 1 Bank which he joined in 2006 shortly after the bank’s founding. At Square 1 Bank he oversaw the bank’s Southern California region and had a senior role in its national structured finance group.
“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, the chief executive officer of Trinity.
“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.”
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 where he was the head of underwriting and portfolio management for its technology finance practice and had direct experience with deal origination, leading underwriting teams, and portfolio management within the Ally’s sponsor finance practice. Earlier in his career, he was a principal at Los Angeles-based private equity firm Nogales Investors Management and held other positions at GE Capital, GMAC Financial Services, and Raytheon Missile Systems.
Mr. Cook also comes to Trinity from 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.
“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,” concluded Mr. 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.”
Trinity Capital was founded in 2008 by Steve Brown and is headquartered in Phoenix with an additional office in San Diego.
© 2024 Private Equity Professional | May 9, 2024
