Tricon Investment Partners files to go public

Tricon Investment Partners (TIP), an affiliate of Canadian real estate private equity firm Tricon Capital Group, has filed a preliminary prospectus for an initial public offering of subordinate voting shares. TIP, which invests in for-sale residential developments across the United States and Canada, will be seeded by a transfer of 50 percent of Tricon's interest in Tricon Housing Partners LP, which is valued at about US$108 million. Tricon said TIP will become its "permanent growth vehicle for land and home-building investment opportunities." It will carry on and replace investment activity by the firm's private funds.

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