The private equity firm Oak Hill Capital has sold part of its position in TelecityGroup, one of the leading data center and colocation service providers in Europe. Oak Hill sold 12 million shares at 500 pence last Thursday.
Oak Hill acquired its stake in Telecity in 2005, when it teamed with 3i to take the company private. After acquiring Globix Holdings and Redbus, the company went public again in October 2007 as TelecityGroup. The share price of TCY has climbed from 280 pence at its IPO to about 520 today.
Oak Hill Capital has invested in a number of companies in the data center sector, including Savvis, The Telecity Group and Cincinnati Bell. In its most recent deal in the sector, Oak Hill acquired managed hosting provider ViaWest. Robert M. Bass is the lead investor in the private equity firm, which manages more than $8 billion of committed capital.