Tricon Capital Takes $261M Interest in Tricon IX

Tricon Capital Group (TSX: TCN) a Canadian private equity firm focused on the real estate sector, has acquired up to a 68.4% interest in Tricon IX LP, a US$333 million U.S. distressed residential development fund managed by the firm. The purchase price will be approximately US$261 million, and will be financed by a bought deal offering and revolving credit facility. One of Tricon IX's largest LPs will continue to hold its 31.6% ownership interest in the fund alongside Tricon.

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