Firms & Funds

Brazos execs form mid-market firm CenterOak Partners

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  • For control investments in mid-market companies
  • Not clear if firm will seek external investors
  • Brazos still has capital needing to be deployed

Fojtasek will lead the firm along with Salim and other Brazos executives Lucas Cutler and Jason Sutherland, sister website peHUB reported.

CenterOak will make equity investments of $20 million to $70 million in industrial growth, consumer and business services. The firm will target investments in the United States with a strong emphasis on the Southwest and South. It is not clear if the firm will seek to raise a fund with external investors.

Brazos, meanwhile, still had capital to be deployed in the $715 million Fund III, a 2008 vintage pool, as of March. Brazos at the time had not reduced or dropped fees on its funds despite the decision to wind down.

“Brazos has a long runway ahead of it. We have a portfolio to mine and harvest value. We’ll be together operating Brazos to the conclusion of portfolio company investment horizon(s),” Salim told peHUB at the time. “In time, partners may choose to extend their careers in different directions.”

It also is not clear if the two other Brazos partners, Jeff Fronterhouse and Patrick McGee, are planning on forming their own firms. Brazos raised its first fund in 2000, collecting $250 million.

Chris Witkowsky is editor of peHUB.