Triago-X, the secondary transactions specialist, is another firm trying its luck in the public markets. The group has announced its intention to float on Alternext of Euronext? Paris. The listing is dependent on market conditions and regulatory approval.
The Triago Group, founded in 1992, consists of two companies: Triago Advisors and Triago-X. It operates out of Paris and New York and is active in 30 countries. Triago-X was set up in 2004 with the aim of providing an efficient service to investors wishing to sell investments in private equity funds at optimum market conditions. With global private equity assets under management totalling over US$1,000bn in 2005, the need for liquidity in the secondaries market is growing rapidly. Triago-X acts as an interface between sellers and buyers. Clients range from major European and US institutional investors to corporates or private groups from all around the world. The team’s remuneration consists of a percentage fee of the transaction carried out.
Triago-X has experienced positive growth in a promising market, posting a turnover of €5.7m and a net profit of €1.9m for the financial year ended March 31, 2006, a sharp increase on the previous year’s results.
Antoine Dréan, founder and CEO of Triago-X, says: “The listing of Triago-X some months after Alain Madelin joined in the capacity of senior advisor will be the ideal opportunity to raise awareness amongst private equity investors worldwide to the benefits they can achieve from our services. As the market matures, private equity secondary transactions will look to new ways of optimising efficiency and fluidity. Capitalising on its strong links with market players and its technical platform and specialist know-how, Triago-X aims at becoming the industry’s standard for private equity secondary transactions.”