Oakland Capital Partners LLC closed its private investment in Trident Funding Corp., originator of boat and yacht loans in the United States.
Founded in 1996 by Jim Foley, Bob Dunford and Mike Bryant, Trident Funding Corp. has locations servicing major domestic boating and yachting markets including Fort Lauderdale; Annapolis, Md.; Shelton, Conn.; New Jersey; the Carolinas; Seattle; and Alameda and Newport Beach, Calif.
All three founders have agreed to stay on with the new entity in their current roles and all other Trident employees will remain with the business in their respective roles.
“We are proud and excited to have joined forces with Trident Funding,” said Oakland Capital Partners’ Peter Benoist in a statement. “The entire Trident team has made their mark in this industry as a reliable lending product source and an excellent service to the boat and yacht buyer in most of the major U.S. boating markets. We believe that we can help Trident with the resources and energy to build upon their strong record of success within the marine finance industry and look forward to a long and prosperous partnership with them.”
Oakland Capital Partners was established by partners Michael Amann, Peter Benoist Jr. and Patrick McSwain in 2017 to identify, invest in, and manage small businesses. Trident Funding is the firm’s first major enterprise investment.
“We are pleased to have found a partner in Oakland Capital that we can work closely with to grow Trident Funding to even greater heights of success,” said Trident Funding Corp.’s Jim Foley.
While specializing in marine loan originations, Trident Funding also offers aircraft and other recreational vehicle lending services.
Additionally, Trident’s wealth management division provides services to wealth management institutions and their clients with customized professional financing programs.