Peak Rock Capital has held a final closing of Peak Rock Capital Fund LP and its parallel fund (collectively, the “Fund”) at its hard cap with committed capital of $700 million.
Given significant investor interest, the Fund was oversubscribed and greatly exceeded its initial target of $400 million. The Fund’s limited partners include private pension, public pension, sovereign wealth, foundation and endowment, fund of funds, and other institutional investors.
“We are enormously appreciative of and humbled by the overwhelming response to our inaugural fund. We see this successful milestone as a reflection of our team’s ability, through hundreds of transactions and various economic conditions, to identify and add outstanding value to businesses in the middle market,” said Anthony DiSimone, Chief Executive Officer of Peak Rock. “We look forward to identifying attractive investment opportunities that are consistent with our strategy and pursuing value for all stakeholders.”
The new fund will make debt and equity investments in middle market companies where it can support management in driving rapid growth and profit improvement through operational and strategic changes. The investment period for the Fund has already commenced and the Fund has made multiple investments.
Peak Rock Capital makes debt and equity investments of $20 million to $150 million in middle market companies with revenues from $50 million to $1 billion and enterprise values from $25 million to $500 million. Sectors of interest include business and commercial services; consumer; distribution and logistics; energy and related services; healthcare; industrials; manufacturing, metals, and media. The firm is based in Austin, TX (www.peakrockcapital.com).
“We would also like to thank our friends in the investment banking, financial advisory, legal and lending communities for their tremendous support. We look forward to continuing and expanding our relationships as we build Peak Rock’s portfolio,” said Steve Martinez, Managing Director of Peak Rock.
Bruce Ettelson and John Muno from Kirkland & Ellis served as legal counsel in the formation of the Fund.
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-24-13