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Oak Hill closes latest buyout fund at $3.8bn

Wednesday, January 06, 2021

Laxman Pai, Opalesque Asia:

North America middle-market focused private equity firm Oak Hill Capital closed its latest buyout fund, Oak Hill Capital Partners V (OHCP V), at $3.8 billion, significantly higher than the fund's target.

The New York-headquartered firm said in a press release that it had initially set a $3 billion fundraising goal for OHCP V. The fund also represents the largest amount of third-party capital that Oak Hill has raised in its 35-year history.

The private equity manager's previous fund, Oak Hill Capital Partners IV, closed at $2.65 billion. That fund closed in 2017 above its fundraising target of $2 billion.

While Oak Hill's fifth fund is approximately the same size as the third, the new vehicle represents the largest amount of outside capital the firm has ever raised, said Tyler Wolfram, the firm's managing partner, and chief executive.

Oak Hill's latest fund received commitments from more than 100 limited partners from 25 countries, with more than 90% of the investors in the fourth fund also committing to the fifth, according to the news release.

Investors include the $105.1 billion Minnesota State Board of Investment, St. Paul. Texas billionaire Robert M. Bass remains a significant investor, as he has been in all previous Oak Hill funds. Oak Hill was formed in 1986 as the family office for Robert and began raising funds from outside investors in 1999.

Tyler Wolfram, CEO & Managing Partner, said, "We are grateful for our Li......................

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