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Laxman Pai, Opalesque Asia: The middle-market private investment firm Peak Rock Capital has closed its third flagship fund Peak Rock Capital Fund III at its $2 billion hard cap, substantially exceeding its target of $1.3 billion.
The Austin, Texas, firm said in a press release that its 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," said the release.
Peak Rock maintains its focus on companies with resilient demand drivers, especially those within the consumer, industrial, technology, and healthcare sectors, it added.
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," Anthony added.
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