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Private equity executive Joe Trustey killed in plane crash

Joe Trustey, a managing director and chief operating officer of Summit Partners, was killed last night when his single-engine plane crashed at Milwaukee’s Timmerman Airport. Also killed was one of Trustey’s daughters, Anna, who is believed to be the plane’s only other occupant.

Trustey originally joined the Boston-based private equity firm in 1992, and focused on investments in the growth products and services sector. He had been serving on the boards of such portfolio companies as Central Security Group, Grand Design RV, Parts Town, QuietStream Financial, Vivint and Vivint Solar (VSLR).

Before Summit, Trustey worked as a consultant with Bain & Co. and served as a Captain in the U.S. Army. He received an MBA from Harvard Business School, and a BS in chemical engineering from the University of Notre Dame.

Trustey is survived by his wife Kristine, and daughters Caroline and Claire. His son, A.J., passed away in late 2014.

Summit Partners has not yet issued a formal statement, nor have the victims been identified by transportation authorities, but dozens of comments of condolence have been posted on social media accounts of Trustey family members. The plane was registered to Trustey Management Corp.

Update: Summit Partners has issued the following statement:

It is with immense sadness that Summit Partners announces that our beloved friend and colleague, Joseph F. Trustey, and his daughter, Anna were involved in a plane crash on Wednesday evening. Joe and Anna were traveling to the Midwest for a college visit tour, and tragically, neither survived the accident.

Joe joined Summit Partners full-time in 1992 and was an invaluable asset to the firm and a respected leader in the growth equity industry more broadly.

Summit’s Marty Mannion said: “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. 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.”

We appreciate the outpouring of support, comfort and prayers that are being offered by all those who knew and loved Joe. Our thoughts and prayers are with the Trustey family, and we are focused on supporting them during this challenging time.