Tribeca Fully Exits Termocandelaria Power (Latin America)
Colombia-focused private equity fund manager Tribeca has fully exited its stake in Termocandelaria Power (TPL), a Colombia-based thermal energy generation company. Tribeca initially invested in TPL in 2009 and 2010, and held a 60.8 percent stake in the company. The firm’s exit resulted in a reported cash multiple of 2.2x and an annual IRR of 17%. Financial details of the transaction were not disclosed.