Triton Pacific Capital Partners

Craig Farlie, the founder and managing partner, leads the investment committee and has guided the firm’s strategy since 1996. The partnership operates with a flat structure where senior deal professionals originate, diligence, and manage portfolio companies directly. Day-to-day portfolio oversight is shared among partners and deployed operating executives rather than siloed by title.

The firm relies heavily on intermediary relationships with business brokers, regional investment banks, and accounting firms across the western US. Its SBIC license also creates a unique origination channel, as business owners and advisors approach Triton Pacific specifically because the government leverage component can reduce equity capital costs. Repeat referrals from exited founders and industry executives form a third proprietary source.

Triton Pacific exclusively targets control positions. The firm’s operational model — installing operating partners and executing post-close strategic changes — requires board and management control. Minority stakes, passive growth equity, and fund-of-funds commitments are outside the mandate.

The Small Business Investment Company (SBIC) program, administered by the US Small Business Administration, provides qualifying private equity firms with government-guaranteed debentures to supplement private LP commitments. Triton Pacific’s SBIC status effectively reduces its blended cost of capital, allowing it to compete more aggressively on mid-market auctions while preserving fund-level IRR for limited partners.

Yes. Triton Pacific Healthcare Partners, launched in 2021, is a sector-focused vehicle within the Triton Pacific platform that targets physician practice management roll-ups, ambulatory surgery centers, imaging centers, and related healthcare services businesses. It operates under the same control-buyout mandate as the flagship funds but concentrates exclusively on healthcare, drawing on the firm’s accumulated sector expertise from prior platform investments.

The firm targets platform companies with EBITDA between $2 million and $8 million, translating to enterprise values roughly in the $10 million to $75 million range. Equity checks vary by fund vintage and SBIC leverage availability, but the partnership remains deliberately below the radar of middle-market funds that seek $10M+ EBITDA targets.

Limited partners include US public and private pension funds, university endowments, insurance company general accounts, and family offices. The SBA debenture program also supplies a portion of investable capital through government-guaranteed debt, a structural feature that differentiates Triton Pacific’s funding model from that of a purely private LP-backed firm.