Trinity Capital equipment finance portfolio reaches $337M
Company achieves record $39.9M net investment income
Trinity Capital reported record earnings in 2025, driven by strong origination volume and continued growth in equipment finance.
Fourth-quarter net investment income (NII) increased 15.4% year over year to a record $39.9 million, according to the company’s earnings release today. Total investment income rose 17.5% YoY to $83.2 million.
During the quarter, Trinity funded $434.8 million in gross investments, including $106.5 million in equipment financing, according to the release. Secured loans accounted for $302.3 million of fundings, while exits and repayments totaled $218.8 million.
Trinity’s $2.4 billion portfolio included $336.8 million in equipment financing, representing about 14% of total fair value, as of Dec. 31, according to the release. The broader portfolio consisted of $1.9 billion in secured loans and $218.1 million in equity and warrants.
The debt portfolio was 85.4% first-lien and 82.9% floating rate, according to the release. Loans and equipment financings on non-accrual totaled 0.7% of the debt portfolio at fair value.
For the full year, total investment income rose 23.5% to $293.7 million, while NII reached a record $144.1 million, according to the release. Gross investments increased 21.3% YoY to $1.5 billion.
Assets under management grew 38.2% to $2.8 billion, according to the release. Trinity ended the year with $335.2 million in liquidity and a 119% debt-to-equity ratio.
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