Austin, Texas-based Peak Rock Capital has significantly exceeded the target for its debut fund amid significant investor interest.
The firm revealed that it closed its inaugural fund on its $700m hard cap, far ahead of its $400m target.
Earlier this month AltAssets reported that the firm had picked up more than $630m of commitments for the special situations vehicle.
The fund has drawn commitments from private pension, public pension, sovereign wealth, foundation and endowment, fund of funds, and other institutional investors.
Peak Rock Capital Fund invests between $20m and $100m in businesses with revenues of over $50m and enterprise values of $25m to $500m which face strategic, operational or financial challenges.
It targets sectors including consumer, logistics, business services, healthcare, manufacturing, industrials and media.
Peak Rock said that the vehicle’s investment period has already started and has made multiple deals.
Peak Rock CEO Anthony DiSimone said, “We are enormously appreciative of and humbled by the overwhelming response to our inaugural fund.
“We see this successful milestone as a reflection of our team’s ability, through hundreds of transactions and various economic conditions, to identify and add outstanding value to businesses in the middle market.
“We look forward to identifying attractive investment opportunities that are consistent with our strategy and pursuing value for all stakeholders.”
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