Oak Hill Capital Partners
Oak Hill Capital Partners is a U.S. private equity firm focused on the North American middle market; it grew out of investor Robert M. BassRobert M. BassRobert M. Bass is an investor in Fort Worth, Texas, who founded the Robert M. Bass Group (later known as Keystone) and is the founder and lead investor of the Oak Hill partnerships, including the private equity firm Oak Hill Capital Partners. He chaired Stanford University’s Board of Trustees and, with his wife, Anne T. Bass, has made major gifts to Stanford, Duke and other institutions.Open the full entry’s family office, and Bass has long been its lead investor.
Contents14 sections
Key facts
1986Origins in Robert M. Bass’s Family Office
Oak Hill traces its roots to the family office of Texas investor Robert M. Bass.[1]
Since 1986, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments.[2]
2001Partnership Structure
A Schedule 13D amendment on eGain Communications shares filed in August 2001 shows Oak Hill Capital Partners, L.P. and Oak Hill Capital Management Partners, L.P. as Delaware limited partnerships whose general partner, OHCP GenPar, L.P., in turn acts through its general partner OHCP MGP, LLC; Robert M. Bass is listed as a reporting person alongside them.[3]
December 23, 2003Agrees to Acquire Duane Reade
On December 23, 2003, Duane Reade announced it would be acquired by Oak Hill Capital Partners, with stockholders receiving $17.00 per share in cash and an aggregate transaction value, including debt repayment, of more than $700 million. Oak Hill Capital Partners, founded by Robert M. Bass and the firm’s principals, then had $1.6 billion of committed equity capital.[4]
August 2, 2004Completes Duane Reade Buyout
On August 2, 2004, Duane Reade completed its merger with an affiliate of Oak Hill Capital Partners; shares were converted into the right to receive $16.50 in cash and the stock left the New York Stock Exchange. Oak Hill’s team had by then completed more than 50 significant private equity transactions, and its fund had backed companies including Align Technology and Blackboard.[5]
May 3, 2010Agrees to Buy Dave & Buster’s
On May 3, 2010, Oak Hill Capital Partners announced it would acquire Dave & Buster’s from Wellspring Capital for about $570 million. The firm then had over $8.4 billion of committed capital, with Robert M. Bass as lead investor, and with its predecessors had completed more than 60 significant private equity transactions over more than 24 years.[6]
October 2011Joins FNB United Recapitalization
In 2011 Oak Hill Capital Partners and The Carlyle Group, as lead investors, each agreed to invest $79 million in FNB United as part of a $310 million capital raise; in October that year FNB shareholders approved the acquisition of Bank of Granite, which remained subject to other conditions.[7]
January 5, 2012Sells Remaining Butler Schein Stake
On January 5, 2012, Henry Schein acquired Oak Hill Capital Partners’ remaining interest in Butler Schein Animal Health for $155 million in cash, bringing its ownership to 71.5%. Oak Hill Capital Partners then had more than $8.2 billion of committed capital.[8]
September 2015Fund IV
Oak Hill Capital Partners IV made its first sale on September 1, 2015; an August 2017 filing gives a total offering amount of $2,654,085,000 for the fund, its parallel vehicles and general partner. Its executive officers included J. Taylor Crandall and Tyler J. Wolfram, and the filing lists Stamford, Connecticut.[9]
December 2018Fund V
Oak Hill Capital Partners V, with a $3 billion offering amount, made its first sale on December 21, 2018; by December 2019 the fund and its parallel funds had sold about $2.65 billion.[10]
January 2022Fund VI
Oak Hill Capital Partners VI, with a $5 billion offering amount including parallel vehicles, made its first sale on January 28, 2022, and by January 2024 had sold about $3.18 billion in total; its executive officers included Tyler Wolfram, Brian N. Cherry and Steven G. Puccinelli.[11]
October 3, 2022Wafra Takes a Minority Stake
On October 3, 2022, Wafra announced that funds it manages had bought a strategic minority interest in Oak Hill Capital Partners from an affiliate of Jefferies Financial Group, saying control of Oak Hill’s investment processes, management and day-to-day operations would not be affected. Oak Hill had then invested in about 100 companies.[2]
Jefferies had owned its 15% stake in Oak Hill since 2019; Oak Hill had offices in New York, Connecticut and California, and its fourth and fifth funds had internal rates of return of 28.3% and 28.5% as of June 30 that year.[1]
September 2025Fund VII
In September 2025 Oak Hill Capital Partners VII (Management) L.P. filed a Form D with the SEC, with its first sale yet to occur; the named executive officers included Tyler Wolfram, Scott Baker and Steven G. Puccinelli.[12]
Related Organizations, Websites, and Public Accounts
Oak Hill Capital Partners: Official website: https://www.oakhill.com/ (opens in a new window)[2]
Sources
- Jefferies Sells Oak Hill Capital Stake to Kuwait-Backed Wafra (opens in a new window)
- Wafra Announces Strategic Partnership with Oak Hill Capital Partners (opens in a new window)
- SCHEDULE 13D (opens in a new window)
- DUANE READE INC. TO BE ACQUIRED BY OAK HILL CAPITAL PARTNERS, L.P. (opens in a new window)
- DUANE READE INC. TO GO-PRIVATE MERGER CONSUMMATED (opens in a new window)
- Oak Hill Capital Partners to Acquire Dave & Buster's from Wellspring Capital for $570 Million (opens in a new window)
- FNB Shareholders Approve Acquisition of Bank of Granite Corporation (opens in a new window)
- HENRY SCHEIN ACQUIRES OAK HILL CAPITAL PARTNERS' REMAINING INTEREST IN BUTLER SCHEIN ANIMAL HEALTH (opens in a new window)
- FORM D (opens in a new window)
- FORM D (opens in a new window)
- FORM D (opens in a new window)
- FORM D (opens in a new window)