About This Fund
CenterOak Equity Fund II is the second flagship private equity fund raised by CenterOak Partners, a Dallas-based middle market investment firm that specializes in control-oriented buyout transactions across the United States. Building upon the track record established through CenterOak Equity Fund I—which closed in 2016 at its $420 million hard cap—Fund II represents a significant scaling of the firm's investment program, reflecting strong deployment performance from the predecessor fund and heightened institutional appetite for focused, operationally engaged middle market buyout strategies.
The fund continues CenterOak's established approach of pursuing control-oriented acquisitions and recapitalizations in middle market companies within Industrial Growth, Consumer, and Business Services sectors. Target investments typically involve companies with enterprise values between $50 million and $250 million, with CenterOak contributing equity checks of $20 million to $90 million per transaction. The firm's value creation philosophy emphasizes deep operational involvement, revenue acceleration through commercial initiatives, and disciplined buy-and-build strategies supported by hands-on engagement with management teams throughout the investment period to build defensible, market-leading businesses.
CenterOak Equity Fund II completed its final close on April 13, 2021, raising $690 million in total equity commitments at its hard cap—surpassing the fund's original $575 million target. Investors included public and private pension funds, endowments, foundations, funds of funds, family offices, and insurance companies, reflecting a broad and diversified institutional base spanning the full spectrum of long-duration capital allocators. The oversubscription at fund close reinforced CenterOak's standing as a trusted and established middle market manager and set the stage for the firm's third fund, CenterOak Equity Fund III, which closed at $1.1 billion in August 2024.