Peak Rock Capital LLC has closed its first fund with $700 million in commitments.

The fund exceeded its initial $400 million target. Investors in Peak Rock Capital Fund LP include: private and public pension funds, sovereign wealth funds, foundation and endowment funds, fund of funds and others.

Peak Rock will make middle-market debt and equity investments. The Austin, Texas, private equity firm plans to invest between $20 million and $150 million per deal. The firm purchased Altas Paper Mills in May.

Kirkland & Ellis LLP served as legal counsel for the fund formation.

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