Oak Hill Closes On New $3.8 Billion

Oak Hill Capital has held an oversubscribed and above target closing of Oak Hill Capital Partners V LP (“OHCP V”) with $3.8 billion of capital. According to Oak Hill, the new fund has the largest amount of third-party capital of any fund the firm has raised in its 35-year history.

Limited partners in OHCP V include more than 100 institutions from 25 countries, representing endowments and foundations, public and corporate pension plans, sovereign wealth funds, insurance companies, financial institutions, consultants, and family offices. Oak Hill’s earlier fund (OHCP IV) closed in July 2017 with just over $2.6 billion of capital.

“We are grateful for our limited partners’ confidence, trust and conviction in our team and investment strategy. We are especially pleased to note that over 90% of OHCP IV’s interests re-upped into OHCP V,” said Tyler Wolfram, Oak Hill’s CEO and managing partner. “We appreciate the continued support from our existing investor base and are pleased to welcome our new investors to the Oak Hill family.

Oak Hill’s new fund is already 40% invested with six platform investments including Mercer Advisors, a Denver-based wealth manager with 44 offices nationwide and over 370 employees (September 2019); Calero-MDSL, a Phoenix-based provider of software and services that assist in the management of communications and technology expenses (November 2019); Metronet, an Indiana-based provider of fiber-to-the-premises data, video, and voice services; Race Communications, a California-based provider of fiber-to-the-premises data, video, and voice services (announced in November 2020 and awaiting regulatory approval); and Galway Insurance, a San Francisco-based provider of property & casualty insurance brokerage and advisory services through EPIC Brokers and Consultants and JenCap Holdings (June 2020).

Oak Hill makes control investments of $100 million to $400 million in companies operating in the services, industrials, media and communications, and consumer sectors. The firm, which began its investment activities in 1986 as the family office of Robert M. Bass, has offices in New York City, Menlo Park and Stamford.

© 2021 Private Equity Professional | January 6, 2021

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