Joseph F. Trustey, 53, a managing director and chief operating officer of private equity firm Summit Partners, along with his daughter Anna, died in a plane crash on Wednesday night, the firm said in a written statement on its website.
The pair were traveling to the Midwest for a college tour.
Mr. Trustey joined Summit Partners in 1992, focusing on growth equity investing at the firm, the website shows.
“Joe was an invaluable asset to the firm and a respected leader in the growth equity industry more broadly,” the statement said.
Prior to joining Summit, Mr. Trustey was a consultant at management consulting firm Bain & Co. and served as a captain in the U.S. Army. He earned a bachelor of science degree in chemical engineering with highest honors from the University of Notre Dame and an MBA from Harvard Business School, where he was a Baker Scholar.
“Joe was uniquely distinguished in so many ways: as a partner, a leader and a friend. He was a wonderful husband and father who also cared deeply for those with whom he worked both inside and outside the firm” said Marty Mannion, Summit's managing director and chief investment officer, in the statement. “He touched everybody he met with his intellect, his sterling character and his engaging sense of humor. We cannot express how much we will miss his presence in our lives.”
He served on the board of directors of a number of companies including Central Security Group, Grand Design RV, Parts Town, QuietStream Financial, Vivint and Vivint Solar, a Blackstone Group portfolio company.
“We are devastated by Joe's passing. I already miss his wisdom, his integrity, his quick wit, his generosity of spirit. Joe was a great partner and a wonderful friend,” said Peter Wallace, a partner in Blackstone Group's private equity group, in an e-mail.
Mr. Trustey also served on the boards of Hannah & Friends, a non-profit organization assisting children and adults with special needs; the Citi Performing Arts Center; and Brooks School. He was also president of the board of Shore Country Day School.
He is survived by his wife, Kristine, and daughters Caroline and Claire. Further information could not be learned by press time.