Peak Rock Capital raises over $1.1bn

The firm has hit its targets for its latest private equity and debt funds.

The Austin-based firm has raised $225 million and $900 million for its Peak Rock Capital Credit Fund II and Peak Rock Capital Fund II respectively, as per a Securities & Exchange Commission filing. Florida State Board of Administration and Alameda County Employees Retirement Association (ACERA) backed both funds.

Peak Rock Capital Fund II, which had an original target of $720 million, will be invested across North America in a diverse number of sectors. The firm’s predecessor buyout fund closed on $700 million in 2013.

Peak Rock Capital Credit Fund II had an initial target of $180 million and will be invested into distressed debt across a diverse number of sectors in North America.