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TORONTO, May 17, 2012 /CNW/ - Tricon Capital Group Inc. (TSX: TCN) ("Tricon" or the "Company"), one of North America's leading residential real estate investment companies, today announced an additional close of $10 million for its latest Canadian fund, Tricon XII Limited Partnership ("Tricon XII" or the "Fund"), bringing the total Fund capitalization to approximately $196 million. Tricon XII is more than double the size of Tricon's predecessor Canadian fund Tricon X. The new commitment is from a major Canadian corporate foundation which is a first-time investor in Tricon managed funds. Given that this commitment was made after the Fund's final closing date, Tricon XII required approval from the Fund's major limited partners and received unanimous consent. Tricon does not anticipate any future closings for Tricon XII.
About Tricon Capital Group Inc.
Founded in 1988, Tricon is one of North America's leading residential real estate investment companies with over $1.1 billion of assets under management. Tricon provides financing to local operators or developers in select markets in the United States and Canada, with a primary focus on for-sale housing in growing markets. Since inception, Tricon has invested in approximately 150 transactions for development projects valued at roughly $10 billion. More information about Tricon is available at www.triconcapital.com.
This press release may contain forward-looking statements relating to expected future events and financial and operating results and projections of the Company, including statements regarding future plans, objectives or economic performance that involve risks and uncertainties. Forward-looking information and statements are based on management's expectations, intentions and assumptions. If unknown risks arise, or if any of the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from management expectations as projected in such forward-looking statements. Examples of such risks include, but are not limited to, the risks disclosed in the Company's final prospectus dated May 14, 2010 and the risks described in the Company's continuous disclosure materials from time-to-time, as available on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.
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Chief Financial Officer