Peak Rock closes inaugural fund at $700 mln hard cap

Firm: Peak Rock Capital LLC

Fund: Peak Rock Capital Fund LP

Target: $400 million

Amount Raised: $700 million

Placement Agent: None

Legal Counsel: Kirkland & Ellis LLP

Despite facing a highly competitive fundraising market, the Peak Rock Capital Fund LP handily exceeded its initial target of $400 million. “We found the market highly receptive to the right team and strategy,” the firm said in an email to Buyouts.

The firm seeks to write checks of $20 million to $150 million per investment in companies with revenue of $50 million to $1 billion, according to its website. The firm is willing to invest in a range of industries, including business and commercial services, distribution and logistics, energy and related services, healthcare, industrials, manufacturing, media and metals.

Peak Rock Capital has a roster of 14 investment professionals, headed by Anthony DiSimone, its CEO and a managing director. DiSimone, like several of the team members, has a background at Aurora Resurgence, the turnaround arm of Aurora Capital in Los Angeles, and at Bayside Capital, the special situations unit of Miami-based multi-strategy private equity firm H.I.G. Capital.

The firm has made several investments from the fund. In May, it announced the acquisition of Atlas Paper Mills LLC, a Miami-based manufacturer of tissue paper using only recycled fiber. Financial terms were not disclosed.

Peak Rock Capital said the law firm Kirkland & Ellis advised it on the formation of the fund. The firm did not list a placement agent on an August Form D filing.