NEW YORK, April 10, 2017 – One Rock Capital Partners, LLC (“One Rock”), a leading middle-market private equity firm, announced that it held a first and final closing of One Rock Capital Partners II, LP (“Fund II”) with total capital commitments of $964 million. Fund II was launched in mid-January 2017 with a $700 million target, and due to strong investor demand, closed at its hard cap on March 31.
One Rock was formed in 2010 by Tony W. Lee and R. Scott Spielvogel, formerly Managing Directors at Ripplewood Holdings. This is the second private equity fund raised by One Rock, which targets controlling stakes in middle-market companies, primarily in the manufacturing, chemicals, industrial business services and auto retail sectors. One Rock often invests in situations characterized by complexity.
Managing Partner Scott Spielvogel commented, “We are extremely grateful for the overwhelming support of the institutional investor community, and we feel very fortunate to be able to add a select group of new relationships to the outstanding set of investors that supported One Rock’s inaugural fund. The trust of the global investor community is a true privilege – and something we continue to work hard to earn every day.”
Managing Partner Tony Lee added, “One Rock is committed to creating value through operational improvements, and we are pleased that our Operating Partners, our strategic relationship with Mitsubishi, and our investment approach have resonated as distinguishing factors for investors. Our second fund will seek to build on our track record as we continue to pursue complex situations in the middle-market in the industries where we have significant operational and strategic resources.”
With the final closing of Fund II, One Rock has approximately $1.4 billion of assets under management. Fund II’s investor base consists of a diverse set of government and corporate pension plans, insurance companies, health organizations, endowments and foundations, and high net worth families.
Moelis & Company LLC and Mitsubishi Corporation Asset Management Ltd. served as placement agents, and Debevoise & Plimpton LLP served as legal counsel to Fund II.
One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and enhancing its profitability to enhance long-term value. One Rock also has a unique strategic relationship with Mitsubishi Corporation, which can provide strategic resources to One Rock and its portfolio companies, including access to potential new business partners, market intelligence, and low-cost sourcing through increased purchasing power globally.
One Rock Capital Partners, LLC: 212-605-6000