Insight

TRP gathers $475m for sophomore fund

The fund's limited partners include public and corporate pension plans, banks, insurance companies, global asset managers, foundations, and large family offices.

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  • Eaton Partners was the placement agent
  • Turning Rock has raised over $900 million of committed capital since its inception
  • TRP is a majority woman-owned business

Turning Rock Partners has closed its second fund at $475 million. The fund’s limited partners include public and corporate pension plans, banks, insurance companies, global asset managers, foundations, and large family offices.

Eaton Partners was the placement agent.

Turning Rock has raised over $900 million of committed capital and is poised for continued growth.

The firm is a majority woman-owned business, which continues to be owned and operated by its founders. TRP has grown to include 15 full-time employees as of August 1, 2022.

“Turning Rock Partners’ growth can be attributed to a consistent strategy over its six-year operating history,” said TRP Partner and COO Saba Ahmad, in a statement. “We will continue to follow an approach informed by a combination of top-down capital markets knowledge, paired with fundamental equity and credit analysis. We are grateful for the continued participation and support of our clients and partners, including Eaton Partners.”

Turning Rock Partners targets debt, equity and hybrid investments in underserved or capital constrained lower-middle market businesses in North America.