CenterOak Partners LLC closed its first fund, CenterOak Equity Fund I LP. The fund is valued at $420 million.
Dallas-based CenterOak invests up to $90 million in equity in businesses that have $50 million to $250 million in enterprise value. The firm focuses on the industrial, business services and consumer sectors. Earlier in 2016, CenterOak bought windows manufacturer Cascade Windows Inc. from Altamont Capital Partners for an undisclosed amount.
“We credit our fundraising success to our track record, focused investment strategy and experienced stable team,” says CenterOak managing partner Randall Fojtasek.
Fojtasek launched CenterOak in 2014. He co-founded and was the former co-CEO of Brazos Private Equity Partners. Former Brazos executives Michael Salim, Lucas Cutler, Jason Sutherland and William Henry are also part of CenterOak's team.
In other PE fundraising efforts, OpenGate closed its first fund; Origami Capital Partners closed a third fund, aimed at buying illiquid assets; and TPG raised a new North American and European-focused PE fund.
Credit Suisse Private Fund Group served as CenterOak’s placement agent.