Dallas-based middle market private equity firm CenterOak Partners has closed its oversubscribed debut fund at a hard cap of $420 million, beating its $350 million target.
The limited partners of CenterOak Equity Fund I LP include top endowments, foundations and other institutional investors.
The firm targets companies in the consumer, business services and industrial growth sectors. It is seeking to make investments between $20 million and $90 million in businesses that have enterprise values of $50 million to $250 million.
Among the firm’s recent transactions is its acquisition of Spokane, Washington-based Cascade Windows Inc, a maker of vinyl windows and doors for an undisclosed amount.
CenterOak has also made investments in a number of companies that include Broken Arrow, Oklahoma-based BlackHawk Industrial, a provider of industrial products and equipment; Phoenix, Arizona-based Eberle Design, a maker of traffic signal control products; and Greenville, South Carolina-based apparel company Southern Tide.
Credit Suisse Private Fund Group worked as placement agent for CenterOak Fund I.
Photo: A worker climbs up a cork oak tree to harvest cork in a forest in Cortes de la Frontera, near Malaga, June 23, 2014. Reuters/Jon Nazca