One Rock raises $2bn for third fund

One Rock Capital Partners LLC has closed its third flagship private equity fund at a hard cap of $2 billion, beating its $1.5 billion target. One Rock Capital Partners III’s limited partners include government and corporate pension plans, insurance companies, health organizations, endowments and foundations, and high-net worth families. Based in New York and Los Angeles, One Rock invests in a variety of sectors that include manufacturing, chemicals, business services and auto retail.

PRESS RELEASE

NEW YORK, March 10, 2021 /PRNewswire/ — One Rock Capital Partners, LLC (“One Rock”) today announced that it has successfully closed its third flagship private equity fund at its hard cap, with total capital commitments of $2.0 billion. One Rock Capital Partners III, LP (“Fund III”) marks One Rock’s largest fund to date, having surpassed its target of $1.5 billion.

Formed in 2010 by Tony W. Lee and R. Scott Spielvogel, One Rock is a leading private equity firm with offices in New York and Los Angeles. The firm’s experienced senior investment professional team collaborates with a deep bench of skilled Operating Partners to catalyze growth and operational improvement at select high-potential businesses. One Rock pursues control investments in companies across a variety of sectors, including manufacturing, chemicals, business services, and auto retail. The firm has developed particular expertise in complex transactions including corporate carve-outs. Over the past 10 years, One Rock has invested in over 35 companies, composed of both platform investments and add-on acquisitions.

Managing Partner Scott Spielvogel commented, “We are truly appreciative of the strong endorsement of the institutional investor community during this period of extraordinary uncertainty. We are grateful for the continued support of an exceptional group of existing investors, and we’re delighted to have the opportunity to begin working with a select group of new limited partners in Fund III.”

Managing Partner Tony Lee said, “With Fund III, One Rock will continue to execute our proven, value-oriented strategy, drawing upon the extensive expertise of our investment professionals and Operating Partners to create meaningful value for our investors. By bringing world-class resources and significant experience across a range of economic cycles, we believe One Rock is well-positioned to serve as the private equity partner of choice for companies seeking to thrive operationally and strategically.”

As of the final closing of Fund III, One Rock has raised approximately $5 billion of cumulative capital commitments. Fund III’s institutional investor base consists of a diverse set of government and corporate pension plans, insurance companies, health organizations, endowments and foundations, and high net worth families.

Head of Investor Relations, Deepa Patil Madhani commented, “We are privileged to have the support of such a stellar group of investors and are especially grateful for their flexibility in performing remote due diligence and holding virtual committee meetings during this pandemic.”

ABOUT ONE ROCK CAPITAL PARTNERS, LLC
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. For more information, visit www.onerockcapital.com.