CenterOak Partners has appointed three new hires to its investment and operations teams.
Ben Adams joins the firm from computer software company Intuit and will serve as a vice president on the investment management team. Prior to Intuit, Adams was vice president at private equity and venture capital firm Lindsay Goldberg.
Carrie Calhoun joins from private equity and venture capital firm NGP Energy Capital Management and will serve as a senior associate of business development and investor relations.
Josh Weaver joins the firm from Wells Fargo Securities and will serve as an associate responsible for the firm’s investment and monitoring activities.
In August, CenterOak held a final close on its debut fund at the $420 million hard-cap, surpassing its $350 million target. The capital will be invested in companies with potential for long term growth focused on sectors such as industrial, consumer and business services, according to PEI Data.
Caledonia Investments and the Oklahoma Police Pension and Retirement System were among the institutional investors that committed to the fund. Foundations and endowments made up the majority of the remaining investor base.
CenterOak, which makes control investments in middle market companies, was launched in September 2014 by a handful of former Brazos Private Equity executives: Randall Fojtasek; Michael Salim; Lucas Cutler; Jason Sutherland and William Henry.
The firm invests approximately $20 million to $90 million of equity per transaction and specializes in buyouts and recapitalizations of closely held or family-owned businesses, non-core subsidiaries of larger public or private companies, and buy-and-build opportunities backing proven executives.