- Firm: Oak Hill Capital Partners
- Fund: Oak Hill Capital Partners V
- Target: $3 bln
- Amount Raised: $2 bln
- Placement Agent: Park Hill Group
Oak Hill Capital, which just closed its fourth fund in 2017, has raised about $2 billion for its next flagship vehicle, sources told Buyouts.
Oak Hill Capital Partners V is targeting $3 billion, one of the sources said. It recently held a first close on $2 billion, and could hold a final close by summer, the source said.
Park Hill Group is working on the fundraising, sources said. The firm in December filed a Form D fundraising document on Fund V, which did not list how much the pool had raised.
A spokeswoman for Oak Hill declined comment.
Oak Hill was formed in 1986 as Robert Bass’s family office and eventually started raising external capital. J. Taylor Crandall, managing partner and founder, and Tyler Wolfram, managing partner and chief executive, lead the firm.
Fund IV closed on $2.65 billion, beating its $2 billion target and surpassing even its $2.5 billion cap, the firm said in a statement at the time.
Fund IV was generating a 46.34 percent internal rate of return and a 1.2x multiple of investment capital as of Sept. 30, 2018, information from Minnesota State Board of Investment showed.
Oak Hill makes control investments of $100 million to $300 million in primarily North American middle-market companies. It focuses on sectors like consumer, retail and distribution, industrials, media and communications and services.
Action Item: Check out Oak Hill’s Form ADV here: https://bit.ly/2Gttx2E