Trinity Investments

Investment decisions are led by Managing Partner and CIO Gary Murakami, alongside President and CEO Sean Hehir. The firm is chaired by Lee Neibart, a longtime real estate executive. The senior investment committee reviews all acquisitions, with a focus on major hospitality assets in gateway cities and resort markets.

Trinity relies heavily on direct, off-market relationships with major hotel brand families — Marriott, Hilton, Hyatt, and Four Seasons — as well as with institutional sellers looking to exit legacy hospitality holdings. The firm's multi-decade track record in Hawaii and California resort markets creates a persistent sourcing advantage; sellers and brand partners view Trinity as a credible buyer capable of closing complex hotel transactions without financing contingencies.

Trinity is overwhelmingly concentrated in hospitality real estate. The firm invests in full-service and luxury hotels, resorts, and on occasion, adjacent mixed-use assets that support hotel operations. It has not publicly diversified into office, industrial, multifamily, or retail sectors in any meaningful way, making it one of the few institutional real estate managers with a near-pure-play hospitality mandate.

Trinity has established deep co-investment relationships with sovereign wealth funds, though it has not consistently disclosed the specific sovereign entities. In September 2024, Trinity Fund Advisors TRS III closed with a co-investment from an undisclosed sovereign wealth fund, continuing a pattern of large-scale partnerships with state-affiliated global pools of capital.

Trinity manages a series of closed-end discretionary private equity funds, most recently Trinity Fund Advisors TRS III. The firm also manages separate accounts and joint ventures alongside its commingled vehicles, bringing in co-investors on larger hotel acquisitions. It does not operate as a REIT or a continuously offered open-end fund.

Trinity does not publicly maintain a philanthropic foundation or donor-advised fund tied to the firm. There is no disclosed charitable vehicle emanating from the firm's corporate structure or investment management platform. Charitable giving by individual principals, if any, is not publicly structured.

Trinity actively uses co-investment structures, bringing institutional partners directly into specific hotel assets alongside its fund vehicles. The firm has historically invited sovereign wealth funds and large pension plans into co-investment structures on a deal-by-deal basis, particularly for larger resort and luxury hotel acquisitions that exceed typical fund concentration limits.