Oak Hill raises $2.65bn

The firm continues to focus on the North American mid-market.

Oak Hill Capital Partners IV has held a final close at $2.65 billion, exceeding its target of $2 billion and its hard-cap of $2.5 billion. The firm will continue to make buyout investments of between $100 million and $300 million in companies based predominantly in North America, targeting the consumer, retail, industrials and TMT sectors.

The Minnesota State Board of Investment has invested in the vehicle, alongside sovereign wealth funds, foundations, endowments insurance companies, family offices and financial institutions from 20 countries.

The firm’s third flagship vehicle, Oak Hill Capital Partners III, raised $3.8 billion in June 2009, having originally targeted $4 billion.