Updated with correction
Stonyrock Partners, an investment manager that makes strategic minority investments in leading middle-market alternative asset management firms, acquired a minority stake in private equity company Oak Hill Capital Partners, confirmed Stonyrock managing partner Craig J. Schortzmann in an email. Terms of the transaction were not disclosed.
“We are excited to partner with Stonyrock, a strategic long-term investor with an experienced management team, in this next phase of Oak Hill’s growth,” Tyler Wolfram, managing partner and CEO of Oak Hill, said in a news release issued by Oak Hill. “We look forward to continuing to develop our team and position our firm to build on our long history of success.”
Evercore served as financial adviser to Oak Hill. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Oak Hill, and Willkie Farr & Gallagher LLP was legal counsel to Stonyrock.