Cantillon Capital Amends TriNet Group (TNET) 13G Filing

TL;DR

**Cantillon Capital just updated their TriNet (TNET) holdings, signaling a change in their institutional stake.**

AI Summary

Cantillon Capital Management LLC, along with its affiliates Cantillon Inc. and Cantillon Management L.P., filed an Amendment No. 7 to their Schedule 13G for TriNet Group, Inc. on February 9, 2024. This filing indicates their ownership of TriNet's Common Stock as of December 31, 2023. While the specific change in ownership isn't detailed in the provided text, an amendment suggests a material change in their holdings, which could signal a shift in institutional confidence in TriNet Group, Inc. (NYSE: TNET).

Why It Matters

This amendment signals a change in Cantillon Capital Management's stake in TriNet, which can influence investor sentiment and potentially the stock price, as large institutional holdings are often seen as a vote of confidence or concern.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of institutional ownership and does not inherently present a direct risk to investors.

Analyst Insight

Investors should monitor future 13G filings from Cantillon Capital Management LLC to track their evolving position in TriNet Group, Inc., as significant changes could indicate a shift in their investment thesis.

Key Players & Entities

• Cantillon Capital Management LLC (company) — the filing entity
• TRINET GROUP, INC. (company) — the subject company
• Cantillon Inc. (company) — a group member
• Cantillon Management L.P. (company) — a group member
• William Von Mueffling (person) — a group member
• December 31, 2023 (date) — date of event requiring filing
• February 9, 2024 (date) — filing date

Forward-Looking Statements

• Cantillon Capital Management LLC's next 13G/A filing will show a further adjustment in their TriNet Group, Inc. holdings. (Cantillon Capital Management LLC) — medium confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.000025 — ame of Issuer) Common Stock, Par Value $0.000025 Per Share (Title of Class of Securiti

Filing Documents

• c70744876a.htm (SC 13G/A) — 95KB
• c70744876b.htm (EX-99.1) — 4KB
• c70744876c.htm (EX-99.3) — 1KB
• 0000899140-24-000161.txt ( ) — 102KB

(a)

Item 1(a) Name of Issuer : TriNet Group, Inc.

(b)

Item 1(b) Address of Issuer's Principal Executive Offices : One Park Place, Suite 600, Dublin, CA 94568

(a)

Item 2(a) Name of Person Filing: This statement is filed by: (i) Cantillon Capital Management LLC ("CCM LLC") with respect to shares of common stock, par value $0.000025 per share ("Shares"), of the Issuer beneficially owned by certain funds and managed accounts advised by CCM LLC or its subsidiary; (ii) Cantillon Management L.P. ("Cantillon Management") with respect to Shares beneficially owned by CCM LLC; (iii) Cantillon Inc. with respect to Shares beneficially owned by CCM LLC and Cantillon Management; and (iv) William von Mueffling with respect to Shares beneficially owned directly and by CCM LLC, Cantillon Inc. and Cantillon Management. CCM LLC, Cantillon Inc., Cantillon Management and William von Mueffling have entered into a Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Act.

(b)

Item 2(b) Address or Principal Business Office : The address of the principal business office of CCM LLC, Cantillon Inc., Cantillon Management and William von Mueffling is 499 Park Avenue, 9 th Floor, New York, NY 10022.

(c)

Item 2(c) Citizenship : CCM LLC is a Delaware limited liability company. Cantillon Inc. is a Delaware corporation. Cantillon Management is a Delaware limited partnership. Mr. von Mueffling is a United States citizen.

(d)

Item 2(d) Title of Class of Securities : Common stock, par value $0.000025 per share

(e)

Item 2(e) CUSIP Number : 896288107 Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: [ ] Broker or dealer registered under Section 15 of the Act; [ ] Bank as defined in Section 3(a)(6) of the Act; [ ] Insurance company as defined in Section 3(a)(19) of the Act; [ ] Investment company registered under Section 8 of the Investment Company Act of 1940; [X] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); * [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); [X] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); ** [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; [ ] A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ * CCM LLC is filing as an investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). ** Each of Cantillon Inc., Cantillon Management and Mr. von Mueffling is filing as a parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). Item 4 The percentages used herein are calculated based upon the Shares of common stock issued and outstanding as of October 18, 2023 as reported on the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission by the Issuer for the quarterly period ended September 30, 2023. As of the close of business on December 31, 2023: 1. Cantillon Capital Management LLC (a) Amount beneficially owned: 3,345,943 (b) Percent of class: 6.62% (c)(i) Sole power to vote or direct the vote: -0-

View Full Filing

View this SC 13G/A filing on SEC EDGAR