Trinity Capital equipment loans jump 63% YoY
Equipment finance outstandings reached $390.4 million, up 14% YoY in Q2
Trinity Capital increased its equipment finance investments and portfolio outstandings in the second quarter as the Phoenix-based alternative asset manager expanded across its private credit platform.
The company originated $709 million in new commitments and funded $618.7 million in loans during the second quarter, according to today’s earnings release. Its overall investment portfolio included 190 companies as of June 30.
By the numbers
The company reported year-over-year growth across several key equipment finance and investment metrics, according to the earnings release:
- Equipment finance investments were $108.6 million, up 63.3% year over year;
- Equipment finance outstandings reached $390.4 million in aggregate fair value, up 14% YoY;
- Total investment outstandings were approximately $2.7 billion at aggregate fair value, up 35% YoY;
- Gross investments funded totaled $618.7 million, up 69.3% YoY;
- Total investment income was $87.2 million, up 25.5% YoY;
- Net investment income rose to $46 million, up 32.1% YoY; and
- The weighted average investment risk rating was 3.0, compared with 2.9 a year earlier.
Trinity also declared monthly dividends of 17 cents per share for July, August and September, totaling 51 cents for the third quarter.
MARKET REACTION: Shares of Trinity Capital (NASDAQ: TRIN) were up 1.39% from market open to $15.33 as of market close today. Trinity Capital has a market capitalization of $977.52 million.
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