About This Fund
CenterOak Equity Fund II is the second private equity fund of CenterOak Partners, a Dallas, Texas-based middle market buyout firm, which closed on April 13, 2021 with US$690 million in total equity commitments — hitting its hard cap and exceeding the US$575 million fundraising target. The fund attracted capital from a diversified investor base comprising public and private pension funds, endowments, foundations, fund of funds, family offices, and insurance companies, many of which were returning limited partners from CenterOak Equity Fund I. Credit Suisse Securities served as the exclusive placement agent for the fundraise.
CenterOak Equity Fund II continues the firm's control-oriented buyout strategy focused on middle market companies in the United States, investing across its three established sector verticals: Industrial Growth, Consumer, and Business Services. Building on Fund I's investment approach, Fund II benefits from the operational improvements and value-creation expertise the team developed across its initial platform portfolio. The fund targets businesses with strong management teams and defensible market positions that can be meaningfully enhanced through operational transformation, revenue growth initiatives, and targeted add-on acquisitions, consistent with CenterOak's partnership-oriented model of working alongside management rather than imposing externally driven change.
CenterOak Equity Fund II was underwritten against a backdrop of strong early performance from Fund I, which provided the team with a clear proof of concept for its sector-focused, operationally intensive investment approach. The firm has deployed over US$2.4 billion across more than 100 transactions totalling over US$6.4 billion in enterprise value across all fund generations. The successful close of Fund III at US$1.1 billion in 2024 — representing approximately 60% growth over Fund II — confirms strong LP conviction in CenterOak's continued execution.