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Laxman Pai, Opalesque Asia:

One Rock Capital Partners, the middle-market buyout shop, held a final close of its third middle-market buyout fund, One Rock Capital Partners III, at its $2 billion hard cap.

The firm, which focuses on manufacturing, chemicals, and auto-retail companies, exceeded its $1.5 billion target with commitments from institutional investors including pensions, insurers, and health organizations.

The latest fund, the largest fund to date, is more than twice the size of its predecessor, the $964 million One Rock Capital Partners II, said a press release from the New York-based private equity firm.

One Rock Capital Partners has recently agreed to buy Nestle SA's bottled-water brands in the U.S. and Canada. Other recent One Rock deals include the taking private of Innophos Holdings Inc., a maker of food additives, and the planned acquisition of an Illinois manufacturing site from chemicals giant BASF SE.

Managing Partner Scott Spielvogel said, "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."

Investors in the new fund include the New York State Common Retirement Fund, Albany; Los Angeles County Employees Retirement Association, Pasadena......................

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