The UK-based, India focused private equity firm Trinity Capital - earlier known as Trikona Trinity - has appointed John Chapman, a criminal lawyer, as a director. Chapman, aged 54, is a qualified attorney and Chartered Financial Analyst (CFA) and has also worked as a white collar criminal prosecutor in the United States and as a commercial litigator. The investment firm has called for an Extraordinary General Meeting to this effect on November 29, 2010.

Interestingly the appointment of the new director will come after the board of Trinity Capital removed its fund manager Trikona Advisors Ltd (TAL) after an alleged breach of management agreement. In August this year, Trinity Capital appointed Ajay Piramal-backed Indiareit Investment Management Company (Indiareit) as its investment manager even as its original manager Trikona Advisors Ltd (they own 3.18% stake) raised various issues regarding decisions of the board.

Chapman will also be appointed as Chairman of a legal committee that will be charged with overseeing and making major decisions in connection with the ongoing disputes that the company is engaged in with the previous investment manager.  

He will also be a member of a newly constituted investment committee that will be responsible for overseeing the orderly disposition of Company assets in accordance with the Company's revised investment policy.

Chapman has worked as an advisor to various US and foreign governmental bodies on law enforcement issues. Along with his legal background, Chapman has extensive experience as a director of quoted emerging market closed ended funds.

AIM-listed Trinity Capital is focused on investing in real estate and real estate-related entities across India. Trikona Trinity has been a prolific investor in the Indian real estate sector during 2006-2008 with several of its portfolio companies going public in the last one year. It has also made open market exits of its investments in hospital chain Fortis Healthcare and Phoenix Mills.

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