# Two Roads Partners

Two Roads Partners is a Private Equity based in New York, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2018
- **Assets under management:** Undisclosed
- **Website:** tworoads.com
- **LinkedIn:** https://www.linkedin.com/company/two-roads-partners

## Regulatory record

- **CRD number:** 326470
- **SEC file number:** 801-128742
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/326470

## About

Two Roads Partners is an SEC-registered investment adviser in New York, NY, since 2023. The firm manages approximately $579 million in assets. It has 13 employees and 13 investment advisers.

## Sectors

- Consumer
- Financial Services

## People

- Brett Crandall — Managing Partner & Chief Investment Officer

## Questions

### Who runs Two Roads Partners and what is their background?

Brett Crandall is the Managing Partner and Chief Investment Officer. He spent roughly 12 years at Castle Harlan, a middle-market private equity firm, where he ran portfolio operations before launching Two Roads in 2018. His career path also includes operating CEO roles at Internet travel business Travelbyus and propane distributor Pyrofax Energy, giving him direct P&L experience that shapes the firm's operational focus.

### How does Two Roads source its deals?

Brett Crandall's network, built over decades in middle-market private equity and as an operating executive, is the primary sourcing engine. The firm competes on its willingness to tackle complex operational situations — turnarounds, corporate carve-outs, and founder transitions — that demand active management involvement, a filter that screens out many conventional buyers.

### What sectors does Two Roads explicitly avoid?

The firm has not published an explicit exclusion list. However, its focus is narrowly drawn around financial services and consumer businesses. Capital-intensive industries like heavy manufacturing, energy extraction, and commodities fall outside its observable mandate, as do early-stage venture investments and minority growth equity. The firm targets mature, established businesses ready for operational intervention.

## Related profiles

- [Two River](https://altss.com/profile/two-river)
- [Two Seven Ventures](https://altss.com/profile/two-seven-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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