One Rock Capital Partners has successfully closed its third flagship private equity fund at its hard cap, with total capital commitments of $2.0 billion. The fund marks One Rock’s largest fund to date, having surpassed its target of $1.5 billion.
Formed in 2010 by Tony W Lee and R Scott Spielvogel, One Rock is a leading private equity firm with offices in New York and Los Angeles. The firm’s experienced senior investment professional team collaborates with a deep bench of skilled Operating Partners to catalyse growth and operational improvement at select high-potential businesses. One Rock pursues control investments in companies across a variety of sectors, including manufacturing, chemicals, business services, and auto retail.
The firm has developed particular expertise in complex transactions including corporate carve-outs. Over the past 10 years, One Rock has invested in over 35 companies, composed of both platform investments and add-on acquisitions.
Spielvogel says: “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.”
Lee says: “With Fund III, One Rock will continue to execute our proven, value-oriented strategy, drawing upon the extensive expertise of our investment professionals and Operating Partners to create meaningful value for our investors. By bringing world-class resources and significant experience across a range of economic cycles, we believe One Rock is well-positioned to serve as the private equity partner of choice for companies seeking to thrive operationally and strategically.”
As of the final closing of Fund III, One Rock has raised approximately $5 billion of cumulative capital commitments. Fund III’s institutional investor base consists of a diverse set of government and corporate pension plans, insurance companies, health organisations, endowments and foundations, and high net worth families.
Head of Investor Relations, Deepa Patil Madhani says: “We are privileged to have the support of such a stellar group of investors and are especially grateful for their flexibility in performing remote due diligence and holding virtual committee meetings during this pandemic.”