TRF Private Equity manages socially responsible funds striving to serve as a catalyst for economic development by investing in growing companies located in the mid-Atlantic region. The funds are driven by a set of core values that encompass channeling capital back to underserved markets; achieving a double-bottom line of financial return and job creation; working proactively with management teams to develop and implement profitable strategies and providing human resource support to enhance the value and productivity of each business’ workforce. Investors in the funds include banks, corporations, foundations, pension funds, and individuals who have both a social or mission-oriented objective, as well as a financial return requirement for their investments. 

 

TRF Private Equity is a wholly owned subsidiary of The Reinvestment Fund (TRF), a leading development finance organization headquartered in Philadelphia, with more than $270 million under management. Since its inception in 1985, TRF has made close to $500 million in loans and investments.

 

TRF's first private equity fund, DVCRF Ventures, (Ventures) was launched in 1997 as a $10 million proto type for a socially responsible venture capital fund. In 2002, a second growth capital fund was introduced, TRF Urban Growth Partners (UGP), with $48.5 million in commitments. 

 

The concept of combining financial returns for investors with strong job creation and HR support within portfolio companies was an untested model in 1997. Since its initial launch, our investment model has evolved to address the needs of underserved capital markets by providing non control, institutional equity capital to support growth and ownership transitions for small manufacturing and service businesses. Many businesses, especially family-owned ones, need capital beyond the means of its owners in order to enhance competitiveness or assure continuity of the business. 

 

Additionally, these same businesses must continually address the complexities of competing in today’s global market. To do so they need capital as well as productive employees and winning strategies. Our proactive approach to investing which combines human resource services is designed to address these needs.

 

UGP and Ventures are managed by TRF Private Equity which serves as the general partner for both funds. Click here for a listing of TRF Private Equity’s Board of Managers.

 

UGP’s largest investor is The Baltimore Fund representing $15 million of the fund’s $48.5 million in committed capital. The Baltimore Fund itself includes 15 investors including private foundations, commercial banks and individuals.

 

UGP’s Investment Committee is chaired by Bob Keith, Managing Director at TL Ventures and co-chaired by Linda DeJure, an Executive Vice President at The Reinvestment Fund and Managing Director at TRF Private Equity.