Peak Rock wraps up third fund at $2bn

Peak Rock Capital has closed its third fund at a hard cap of $2 billion, beating its $1.3 billion. Peak Rock Capital Fund III’s limited partners include public and private pensions, sovereign wealth funds, endowments, foundations, insurance companies, asset managers and their consultants. John Muno and Kevin Wessel from Kirkland & Ellis LLP served as legal counsel on the fund. Peak Rock invests in the middle market.

PRESS RELEASE

AUSTIN, Texas, April 7, 2021 /PRNewswire/ — Peak Rock Capital LLC (“Peak Rock” or “the Firm”), a leading middle-market private investment firm, today announced the final closing of Peak Rock Capital Fund III LP and its parallel funds (collectively, “Fund III” or the “Fund”). Fund III substantially exceeded its target of $1.3 billion and was over-subscribed, closing at its hard cap on $2.0 billion of limited partner commitments. Peak Rock’s predecessor fund, Fund II, closed on $1.3 billion of commitments in 2017 and its inaugural fund closed on over $700 million in 2013.

Fund III will continue Peak Rock’s successful strategy of focusing on making investments in middle-market companies where Peak Rock can support senior management to drive rapid growth and profit improvement through operational and strategic initiatives. Peak Rock has developed a particular expertise in corporate carve-outs and partnering with families and founders seeking first-time institutional capital. Peak Rock’s flexible capital and highly experienced team allow the Firm to close transactions with exceptional speed and provide certainty of close to stakeholders. Peak Rock maintains its focus on companies with resilient demand drivers, especially those within the consumer, industrial, technology and healthcare sectors.

Anthony DiSimone, Chief Executive Officer of Peak Rock, said, “We are greatly appreciative of the overwhelming support from our existing investors and new investors to our Peak Rock family. We are honored by the quality, sophistication and diversification of the limited partners who continue to entrust us with their capital. The closing of Fund III, at its hard cap, is an endorsement of our team’s ability, through hundreds of transactions and various economic cycles, to significantly grow and fundamentally improve businesses across North America and Europe. We look forward to continuing to work hard for our limited partners and driving further success for all our stakeholders.”

Ralph DeBernardo, Principal and Head of Investor Relations, added, “We would like to thank all of our limited partners for the confidence they have placed in our team, as well as the speed and efficiency with which they made their commitments even in the midst of a global pandemic. Our completely virtual fundraise and strong investor demand across some of the most sophisticated institutional limited partners in the world, is a result of years of hard work and execution by the Peak Rock team.”

Steve Martinez, President of Peak Rock commented, “We would like to thank our colleagues in the investment banking, financial advisory, legal and lending communities for their tremendous support over the years. We look forward to building and expanding these relationships as we grow Peak Rock’s portfolio and convert the active pipeline of opportunities ahead.”

Fund III’s investor base is broadly diversified and is comprised of many of the world’s largest and most sophisticated limited partners, including public and private pensions, sovereign wealth funds, endowments, foundations, insurance companies, asset managers and their leading consultants. The investment period for Fund III is expected to commence shortly.

John Muno and Kevin Wessel from Kirkland & Ellis LLP served as legal counsel in the formation of the Fund.

ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle-market private investment firm that makes equity and debt investments in companies in North America and Europe. Peak Rock’s equity investment platform focuses on opportunities where it can support senior management to drive rapid growth and profit improvement, with expertise in corporate carve-outs and partnering with families and founders seeking first-time institutional capital. Peak Rock’s credit platform invests across capital structures, with a broad mandate to provide flexible, tailored capital solutions to middle-market and growth-oriented businesses. Peak Rock’s real estate platform makes equity and debt investments in small to mid-sized real estate assets in attractive, growing geographies. Peak Rock’s principals have deep expertise in complex situations and cross–border transactions, with the ability to close transactions quickly where speed and certainty are priorities. For further information about Peak Rock Capital, please visit www.peakrockcapital.com.