Oak Hill Capital Partners Raises Fourth Buyout Fund Above Target at $2.65 Billion
Fund was significantly oversubscribed, exceeding target and hard cap
New York, NY and Menlo Park, CA – July 21, 2017
Oak Hill Capital Partners (“Oak Hill”) today announced that it has successfully closed Oak Hill Capital Partners IV (“Fund IV”), a $2.65 billion private equity buyout fund. The fund was significantly oversubscribed, surpassing its target of $2.0 billion and its hard cap of $2.5 billion.
Oak Hill will continue its 30-year history of successful private equity investing with Fund IV, leveraging its experienced team, longstanding theme-based investment philosophy, and systematic approach to value creation. Consistent with Oak Hill’s core philosophy of partnership through alignment of interests, the General Partner will remain the largest investor in Fund IV, with a $300 million commitment.
J. Crandall, Managing Partner and Founder, said, “We would like to thank all our investor partners for their conviction in our team and strategy, and for their trust in us. We are very appreciative of the continued support from our existing investor partners and are also extremely pleased to welcome our new investor partners to the Oak Hill family. I am also particularly proud of the entire Oak Hill team, as each member was engaged in and contributed to our fundraising success. With this fundraise behind us, I am very excited about the prospects for our firm and for our team, and am delighted by the continued able leadership of my partner, Tyler Wolfram.”
Tyler Wolfram, Managing Partner, said, “Oak Hill has been incredibly active, yet disciplined in the current market environment. Our team has leveraged our theme-based investment strategy to drive compelling new investments in the marketplace. We continue to work in partnership with our management teams to enhance the franchise value at each of our portfolio companies by executing well-defined value creation plans. With five investments completed in Fund IV, we have a well-diversified portfolio to build upon in the months and years to come.”
Oak Hill will continue to target control-oriented private equity investments of $100 million to $300 million in middle-market companies primarily in North America, focused across the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Fund IV has already invested over $900 million across five platform investments to date, including Imagine! Print Solutions, FirstLight Fiber, Checkers Drive-In Restaurants, CCC Information Services, and Charter NEX.
Fund IV generated demand from institutional investors around the world, representing a diverse investor base. More than 60 institutional limited partners from 20 countries invested in the fund, representing leading endowments and foundations, public and corporate pension plans, sovereign wealth funds, insurance companies, financial institutions, consultants, and family offices. The fund also received commitments from current and former portfolio company management teams with whom the Oak Hill team enjoys longstanding relationships.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as Oak Hill’s fund counsel.
About Oak Hill Capital Partners
Oak Hill is a private equity firm managing funds with more than $10 billion of initial capital commitments since inception from leading global endowments and foundations, public and corporate pension plans, sovereign wealth funds, insurance companies, financial institutions, consultants, and family offices. Over the past 30 years, the professionals at Oak Hill and its predecessors have invested in 84 significant private equity transactions across broad segments of the U.S. and global economies. Oak Hill applies an industry-focused, theme-based approach to investing in the following sectors: Consumer, Retail & Distribution; Industrials; Media & Communications; and Services. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit www.oakhillcapital.com.
Jeremy Fielding / Ethan Lyle