Austin-based private equity firm Peak Rock Capital has closed $700 million for its debut fund. According to Peak Rock, the fund was oversubscribed and had exceeded its target of $400 million. The pool will focus on making investments in middle-market companies.
AUSTIN, Texas, Sept. 24, 2013 /PRNewswire/ — Peak Rock Capital LLC (“Peak Rock”) announced the final closing of Peak Rock Capital Fund LP and its parallel fund (collectively, the “Fund”). The Fund, which is the initial investment vehicle for Peak Rock, closed 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.
The Fund is focused on making 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. Peak Rock’s flexible capital and highly experienced team provide the ability to close transactions with outstanding speed and certainty of close to stakeholders.
Anthony DiSimone, Chief Executive Officer of Peak Rock, said, “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. We look forward to identifying attractive investment opportunities that are consistent with our strategy and pursuing value for all stakeholders.”
Steve Martinez, Managing Director of Peak Rock added, “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.”
The investment period for the Fund has already commenced and the Fund has made multiple investments. Bruce Ettelson and John Muno from Kirkland & Ellis LLP served as legal counsel in the formation of the Fund.
ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is an Austin, Texas based private equity firm that makes debt and equity investments in middle market companies. Peak Rock focuses on investing in companies where it can support management in driving rapid growth and profit improvement through operational and strategic changes. Peak Rock’s principals have deep expertise in complex situations, with the ability to provide tailored capital solutions and close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.