Oak Hill Capital
Encyclopedia
Oak Hill Capital Partners is a private equity
firm headquartered in New York, New York with more than $7 billion of committed capital from leading entrepreneur
s, endowments
, foundations
, corporation
s, pension
funds and global financial institutions. Robert Bass
is the lead investor.
Oak Hill Capital is one of several Oak Hill partnerships, each of which has an independent management team. These Oak Hill partnerships comprise over $18 billion of investment capital across multiple asset classes, including private equity, special situations, high yield and bank debt, venture capital, real estate
and a public equity exchange fund.
On April 20, 2010 the company announced acquisition of Denver based data center company ViaWest Inc. for an undisclosed amount.
The transaction is expected to close in the second quarter.
, who was and early investor in leveraged buyout
s in the 1980s and employed David Bonderman
and Jim Coulter
the founders of Texas Pacific Group
, is the lead investor in Oak Hill Capital Partners.
The company has garnered widespread media attention due to its addition of investors Bill Gates
and Nike
founder Phil Knight
.
. Those stations, which are operated under a holding company known as Local TV
, are as follows:
Oak Hill also recently acquired the following eight Fox
network affiliates from News Corporation
for $1.1 billion, a deal announced December 22, 2007 and completed on July 14, 2008::
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm headquartered in New York, New York with more than $7 billion of committed capital from leading entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
s, endowments
Financial endowment
A financial endowment is a transfer of money or property donated to an institution. The total value of an institution's investments is often referred to as the institution's endowment and is typically organized as a public charity, private foundation, or trust....
, foundations
Foundation (charity)
A foundation is a legal categorization of nonprofit organizations that will typically either donate funds and support to other organizations, or provide the source of funding for its own charitable purposes....
, corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
s, pension
Pension
In general, a pension is an arrangement to provide people with an income when they are no longer earning a regular income from employment. Pensions should not be confused with severance pay; the former is paid in regular installments, while the latter is paid in one lump sum.The terms retirement...
funds and global financial institutions. Robert Bass
Robert Bass
Robert Muse Bass is an American businessman and philanthropist. He is currently the chairman of Aerion Corporation, an American aerospace firm in Reno, Nevada. Bass is worth approximately $5.5 billion as of 2007, and $4 billion in 2010 on oil and other investments-Life:Bass was born into a wealthy...
is the lead investor.
Oak Hill Capital is one of several Oak Hill partnerships, each of which has an independent management team. These Oak Hill partnerships comprise over $18 billion of investment capital across multiple asset classes, including private equity, special situations, high yield and bank debt, venture capital, real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
and a public equity exchange fund.
On April 20, 2010 the company announced acquisition of Denver based data center company ViaWest Inc. for an undisclosed amount.
The transaction is expected to close in the second quarter.
Notable investors
Robert BassRobert Bass
Robert Muse Bass is an American businessman and philanthropist. He is currently the chairman of Aerion Corporation, an American aerospace firm in Reno, Nevada. Bass is worth approximately $5.5 billion as of 2007, and $4 billion in 2010 on oil and other investments-Life:Bass was born into a wealthy...
, who was and early investor in leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
s in the 1980s and employed David Bonderman
David Bonderman
David Bonderman is a founding partner of TPG Capital and its Asian affiliate, Newbridge Capital...
and Jim Coulter
James Coulter (financier)
James Coulter is an American investment manager, and co-founder of private equity firm TPG Capital, originally known as the Texas Pacific Group.-Education:...
the founders of Texas Pacific Group
Texas Pacific Group
TPG Capital is one of the largest private equity investment firms globally, focused on leveraged buyout, growth capital and leveraged recapitalization investments in distressed companies and turnaround situations. TPG also manages investment funds specializing in growth capital, venture capital,...
, is the lead investor in Oak Hill Capital Partners.
The company has garnered widespread media attention due to its addition of investors Bill Gates
Bill Gates
William Henry "Bill" Gates III is an American business magnate, investor, philanthropist, and author. Gates is the former CEO and current chairman of Microsoft, the software company he founded with Paul Allen...
and Nike
Nike, Inc.
Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered near Beaverton, Oregon, which is part of the Portland metropolitan area...
founder Phil Knight
Phil Knight
Philip Hampson "Phil" Knight is an American business magnate. He is the co-founder and Chairman of Nike, Inc. He resigned as the company's chief executive officer in 2004, while retaining the position of chairman of the board...
.
Notable investments
Over a period of nearly twenty years, Oak Hill Capital has invested in more than fifty significant private equity transactions, including:- ArielArielAriel may refer to:-Film:*Ariel Award, a Mexican Academy of Film award*Ariel , a 1988 Finnish film by Aki Kaurismäki-People:*Ariel , any of several real or fictional people of that name...
- Atlantic BroadbandAtlantic BroadbandAtlantic Broadband is a privately held cable company with headquarters in Quincy, Massachusetts. The company has over 700 employees and 285,000 customers in four operating regions: Florida, Maryland/Delaware, South Carolina and Central Pennsylvania...
- GenpactGenpactGenpact Limited is a global business process and technology management company. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Guatemala, Hungary, México, Morocco, the Philippines, Poland, the Netherlands, Romania, Spain, South...
- The Container StoreThe Container StoreThe Container Store is a specialty retail chain that sells storage solutions for home and office.On July 1, 1978, The Container Store opened its doors in a small, retail space in Dallas...
- Butler Animal Health Supply
- EXLServiceEXLEXL Service is a provider of outsourcing and transformation services. EXL's services are structured around insurance, banking, financial services, utilities, transportation and travel industries...
- Progressive Moulded Products
- TravelCenters of AmericaTravelCenters of AmericaTravelCenters of America is the largest "full service" truck stop chain in North America. The majority of customers are professional truck drivers. The corporate headquarters is located in Westlake, Ohio, a suburb of Cleveland...
- WideOpenWest
- Blackboard Inc.Blackboard Inc.Blackboard Inc. is an enterprise software company with its corporate headquarters in Washington, D.C. and is primarily known as a developer of education software, in particular learning management systems. Blackboard was founded by CEO Michael Chasen and chairman Matthew Pittinsky in 1997 and...
- American Savings Bank (Washington MutualWashington MutualWashington Mutual, Inc. , abbreviated to WaMu, was a savings bank holding company and the former owner of Washington Mutual Bank, which was the United States' largest savings and loan association until its collapse in 2008....
) - Bell & Howell (ProquestProQuestProQuest LLC is an Ann Arbor, Michigan-based electronic publisher and microfilm publisher.It provides archives of sources such as newspapers, periodicals, dissertations, and aggregated databases of many types. Its content is estimated at 125 billion digital pages...
) - Oreck Corporation
- Vertex Data Science
- eGain
- Wometco Cable Corporation
- AlibrisAlibrisAlibris is an online store that sells new books, used books, out-of-print books, rare books, and other media through an online network of independent booksellers....
- Dave & Buster'sDave & Buster'sDave & Buster's is an American restaurant and entertainment business headquartered in Dallas, Texas. Each D&B has a full-service restaurant and a video arcade. As of July 1, 2009, the company had 57 locations across the United States and two in Canada. The company also licenses the D&B concept...
Partners
- Ted Dardani
- Benjamin Diesbach
- Jonathan E. Friesel
- Michael S. Green
- Stratton R. Heath III
- Douglas M. Kaden
- John P. Malfettone
- John R. Monsky
- Robert L. Morse Jr.
- William J. Pade
- Charles B. Patton
- Rowan G. P. Taylor
- Tyler J. Wolfram
Principals
- Scott A. Baker
- Harry L. Eichelberger
- Scott B. Kauffman
- Kevin M. Mailender
- David S. Scott
- Michael J. Warren
Associates
- Andrew J. Hendel
- Christopher H. Kempner
- Claire M. Messner
- Jeffrey R. Mettam
- Anders P. Meyerhoff
- Jacopo F. Nadal
- Ted Rosenwasser
- Ryan S. Schafer
- Roman Valiouline
- Michael W. Vaupen
- Jason H. Veldhuis
- Andrea T. Weslosky
- Christopher M. Williams
Television station properties
The company owns 9 television stations formerly owned by The New York Times CompanyThe New York Times Company
The New York Times Company is an American media company best known as the publisher of its namesake, The New York Times. Arthur Ochs Sulzberger, Jr. has served as Chairman of the Board since 1997. It is headquartered in Midtown Manhattan, New York City....
. Those stations, which are operated under a holding company known as Local TV
Local TV
Local TV LLC is a limited liability corporation, owned by Oak Hill Capital Partners , which operates 18 local network-affiliated television stations in the United States.-History:...
, are as follows:
| DMA Rank | Market | Station ... Channel (DT) | Network |
| 42. | Norfolk Norfolk, Virginia Norfolk is an independent city in the Commonwealth of Virginia in the United States. With a population of 242,803 as of the 2010 Census, it is Virginia's second-largest city behind neighboring Virginia Beach.... |
WTKR-TV 3 (40) | CBS CBS CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of... |
| 44. | Memphis Memphis, Tennessee Memphis is a city in the southwestern corner of the U.S. state of Tennessee, and the county seat of Shelby County. The city is located on the 4th Chickasaw Bluff, south of the confluence of the Wolf and Mississippi rivers.... |
WREG WREG-TV WREG-TV is Memphis, Tennessee's CBS television affiliate, operating on digital channel 28, and uses PSIP 3 as its virtual channel. The station is owned by Local TV, which took over all of the television stations formerly owned by The New York Times Company on May 7, 2007. Its transmitter is... 3 (28) |
CBS CBS CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of... |
| 46. | Oklahoma City Oklahoma City, Oklahoma Oklahoma City is the capital and the largest city in the state of Oklahoma. The county seat of Oklahoma County, the city ranks 31st among United States cities in population. The city's population, from the 2010 census, was 579,999, with a metro-area population of 1,252,987 . In 2010, the Oklahoma... |
KFOR KFOR-TV KFOR-TV, virtual channel 4 , is the NBC-affiliated television station in Oklahoma City, Oklahoma. KFOR-TV is owned by Local TV, a subsidiary of the private equity group Oak Hill Capital Partners, in a duopoly with MyNetworkTV affiliate KAUT-TV ; its studios are located at 444 East Britton Road in... 4 (27) |
NBC NBC The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago... |
| KAUT 43 (40) | MyNetworkTV MyNetworkTV MyNetworkTV is a television broadcast syndication service in the United States, owned by the Fox Entertainment Group, a division of News Corporation... |
||
| 53. | Scranton Scranton, Pennsylvania Scranton is a city in the northeastern part of Pennsylvania, United States. It is the county seat of Lackawanna County and the largest principal city in the Scranton/Wilkes-Barre metropolitan area. Scranton had a population of 76,089 in 2010, according to the U.S... / Wilkes-Barre Wilkes-Barre, Pennsylvania Wilkes-Barre is a city in the U.S. state of Pennsylvania, the county seat of Luzerne County. It is at the center of the Wyoming Valley area and is one of the principal cities in the Scranton/Wilkes-Barre metropolitan area, which had a population of 563,631 as of the 2010 Census... |
WNEP WNEP-TV WNEP-TV is the ABC-affiliated television station for northeastern Pennsylvania licensed to Scranton. It broadcasts a high definition digital signal on UHF channel 50 from a transmitter on Penobscot Knob in Mountain Top... 16 (49) |
ABC American Broadcasting Company The American Broadcasting Company is an American commercial broadcasting television network. Created in 1943 from the former NBC Blue radio network, ABC is owned by The Walt Disney Company and is part of Disney-ABC Television Group. Its first broadcast on television was in 1948... |
| 73. | Des Moines Des Moines, Iowa Des Moines is the capital and the most populous city in the US state of Iowa. It is also the county seat of Polk County. A small portion of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines which was shortened to "Des Moines" in 1857... |
WHO WHO-TV WHO-DT is a television station that broadcasts on Channel 13 in Des Moines, Iowa. It is affiliated with the NBC television network and serves most of central Iowa. The station transmits from the WOI Tower in Alleman, Iowa, which is actually owned by WHO-DT's owners. WHO-DT brands itself as WHO-HD... 13 (19) |
NBC NBC The National Broadcasting Company is an American commercial broadcasting television network and former radio network headquartered in the GE Building in New York City's Rockefeller Center with additional major offices near Los Angeles and in Chicago... |
| 84. | Huntsville Huntsville, Alabama Huntsville is a city located primarily in Madison County in the central part of the far northern region of the U.S. state of Alabama. Huntsville is the county seat of Madison County. The city extends west into neighboring Limestone County. Huntsville's population was 180,105 as of the 2010 Census.... /Decatur Decatur, Alabama Decatur is a city in Limestone and Morgan Counties in the U.S. state of Alabama. The city, affectionately known as "The River City", is located in Northern Alabama on the banks of Wheeler Lake, along the Tennessee River. It is the largest city and county seat of Morgan County... |
WHNT WHNT-TV WHNT-TV is the CBS-affiliated television station for the Tennessee Valley area of North Alabama that is licensed to Huntsville. It broadcasts a high definition digital signal on UHF channel 19 from a transmitter on Monte Sano. Owned by Local TV, the station has studios on Holmes Avenue Northwest in... 19 (59) |
CBS CBS CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of... |
| 96. | Moline Moline, Illinois Moline is a city located in Rock Island County, Illinois, United States, with a population of 45,792 in 2010. Moline is one of the Quad Cities, along with neighboring East Moline and Rock Island in Illinois and the cities of Davenport and Bettendorf in Iowa. The Quad Cities has a population of... / Rock Island Rock Island, Illinois Rock Island is the county seat of Rock Island County, Illinois, United States. The population was 40,884 at the 2010 census. Located on the Mississippi River, it is one of the Quad Cities, along with neighboring Moline, East Moline, and the Iowa cities of Davenport and Bettendorf. The Quad Cities... / Davenport Davenport, Iowa Davenport is a city located along the Mississippi River in Scott County, Iowa, United States. Davenport is the county seat of and largest city in Scott County. Davenport was founded on May 14, 1836 by Antoine LeClaire and was named for his friend, George Davenport, a colonel during the Black Hawk... |
WQAD WQAD-TV WQAD-TV is the ABC-affiliated television station for the Quad Cities area of West-Central Illinois and Eastern Iowa that is licensed to Moline, Illinois... 8 (38) |
ABC American Broadcasting Company The American Broadcasting Company is an American commercial broadcasting television network. Created in 1943 from the former NBC Blue radio network, ABC is owned by The Walt Disney Company and is part of Disney-ABC Television Group. Its first broadcast on television was in 1948... |
| 102. | Fort Smith Fort Smith, Arkansas Fort Smith is the second-largest city in Arkansas and one of the two county seats of Sebastian County. With a population of 86,209 in 2010, it is the principal city of the Fort Smith, Arkansas-Oklahoma Metropolitan Statistical Area, a region of 298,592 residents which encompasses the Arkansas... / Fayetteville Fayetteville, Arkansas Fayetteville is the county seat of Washington County, and the third largest city in Arkansas. The city is centrally located within the county and is home to the University of Arkansas. Fayetteville is also deep in the Boston Mountains, a subset of The Ozarks... |
KFSM KFSM-TV KFSM-TV is the CBS-affiliated television station for the Arkansas River Valley and Northwest Arkansas that is licensed to Fort Smith. It broadcasts a high definition digital signal on UHF channel 18 from a transmitter northwest of Winslow. Owned by Local TV, the station has studios on North 13th... 5 (18) |
CBS CBS CBS Broadcasting Inc. is a major US commercial broadcasting television network, which started as a radio network. The name is derived from the initials of the network's former name, Columbia Broadcasting System. The network is sometimes referred to as the "Eye Network" in reference to the shape of... |
Oak Hill also recently acquired the following eight Fox
Fox Broadcasting Company
Fox Broadcasting Company, commonly referred to as Fox Network or simply Fox , is an American commercial broadcasting television network owned by Fox Entertainment Group, part of Rupert Murdoch's News Corporation. Launched on October 9, 1986, Fox was the highest-rated broadcast network in the...
network affiliates from News Corporation
News Corporation
News Corporation or News Corp. is an American multinational media conglomerate. It is the world's second-largest media conglomerate as of 2011 in terms of revenue, and the world's third largest in entertainment as of 2009, although the BBC remains the world's largest broadcaster...
for $1.1 billion, a deal announced December 22, 2007 and completed on July 14, 2008::
| DMA Rank | City of License/Market | Station ... Channel (DT) | Owned by News Corporation Since |
| 17. | Cleveland - Akron Akron, Ohio Akron , is the fifth largest city in the U.S. state of Ohio and the county seat of Summit County. It is located in the Great Lakes region approximately south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110. The Akron Metropolitan... |
WJW-TV 8 (31) | 1997 |
| 18. | Denver | KDVR KDVR KDVR, , is the Fox-affiliated television station serving the Denver, Colorado designated market area. The station is owned by Local TV LLC, the media arm of private equity firm Oak Hill Capital Partners, under a local marketing agreement with Tribune-owned CW affiliate KWGN . Its transmitter is... 31 (32) |
1993 |
| 21. | St. Louis | KTVI KTVI KTVI, virtual channel 2, is the Fox-affiliated television station serving the St. Louis, Missouri, designated market area. The station is owned by Local TV LLC, the media arm of private equity firm Oak Hill Capital Partners, under a local marketing agreement with Tribune-owned CW affiliate KPLR... 2 (43) |
1997 |
| 31. | Kansas City, Missouri Kansas City, Missouri Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties... |
WDAF-TV WDAF-TV WDAF-TV, virtual channel 4.1, is the Fox-affiliated television station serving the Kansas City, Missouri-Kansas designated market area. The station is owned by Local TV LLC, the media arm of private equity firm Oak Hill Capital Partners. Its studios and transmitter are located in the Signal Hill... 4 (34) |
1997 |
| 34. | Milwaukee | WITI-TV 6 (33) | 1997 |
| 35. | Salt Lake City | KSTU KSTU KSTU, channel 13, is the Fox-affiliated television station serving the Salt Lake City designated market area. The station is owned by Local TV LLC, the media arm of private equity firm Oak Hill Capital Partners, and its transmitter located on Farnsworth Peak, southwest of Salt Lake City... 13 (28) |
1990 |
| 40. | Birmingham Birmingham, Alabama Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S... - Tuscaloosa, AL Tuscaloosa, Alabama Tuscaloosa is a city in and the seat of Tuscaloosa County in west central Alabama . Located on the Black Warrior River, it is the fifth-largest city in Alabama, with a population of 90,468 in 2010... |
WBRC-TV 6 (50) | 1995 |
| 46. | High Point High Point, North Carolina High Point is a city located in the Piedmont Triad region of North Carolina. As of 2010 the city had a total population of 104,371, according to the US Census Bureau. High Point is currently the eighth-largest municipality in North Carolina.... - Greensboro Greensboro, North Carolina Greensboro is a city in the U.S. state of North Carolina. It is the third-largest city by population in North Carolina and the largest city in Guilford County and the surrounding Piedmont Triad metropolitan region. According to the 2010 U.S... - Winston-Salem, N.C. Winston-Salem, North Carolina Winston-Salem is a city in the U.S. state of North Carolina, with a 2010 population of 229,617. Winston-Salem is the county seat and largest city of Forsyth County and the fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region and is home to... |
WGHP WGHP WGHP, channel 8, is the Fox-affiliated television station serving the Greensboro/High Point/Winston-Salem, North Carolina designated market area... 8 (35) |
1995 |