Peak Rock Capital raises $1.61bn

The Austin-based firm has raised capital for its third private equity fund.

Fund name: Peak Rock Capital Fund III
Amount raised: $1.61 billion
Target size: $1.8 billion
Predecessor fund: Peak Rock Capital Fund II ($1.0 billion)

Peak Rock Capital has raised $1.61 billion for Peak Rock Capital Fund III. Capital raised by the vehicle will be used to invest in companies throughout North America across diversified sectors.

Peak Rock Capital Fund III received commitments from several institutional investors, including a $35 million commitment from Alameda County Employees’ Retirement Association, a $40 million commitment from Employees Retirement System of Texas, a $80 million commitment from Teacher Retirement System of Texas and a $100 million commitment from Tennessee Consolidated Retirement System.