Turning Rock
Venture debtNew York · 21 people tracked
Also known as Turning Rock Partners, L.P.
Investment thesis
Turning Rock Partners provides creative, customized capital solutions to companies operating in complex private markets. The firm believes a challenging macroeconomic environment, ongoing market volatility, and rising complexity are creating a growing supply of financing opportunities. Its approach emphasizes value orientation, differentiated sourcing, bespoke capital solutions, creative structuring, a flexible mandate, and a defined path to liquidity. TRP positions itself as a provider of private credit and structured financing rather than a traditional equity-focused venture fund.
Source: firm website, verified Aug 25, 2026.
Team · 21 people
from the firm's websiteWhat they invest in
from 2 of 3 portfolio companiesCleantech ×1Climate Tech ×1Energy ×1Fintech ×1Hardware ×1Logistics & Supply Chain ×1Mobility & Transportation ×1
HQs:Ireland×1
Investments · 3 tracked
founders shown can be your intro pathRIVE is an investment firm focused on energy transition infrastructure, backing entrepreneurs across the energy value chain including renewables, sustainable thermal energy, green gas, energy storage, and charging infrastructure.
CleantechClimate TechEnergy
Co-investorsFortress Investment GroupThe Riverside Company
A company operating in the commercial aviation sector, with teams focused on capital markets, trading, portfolio strategy, and aircraft-related commercial activities across EMEA, the Americas, and Asia-Pacific.
FintechHardwareLogistics & Supply ChainMobility & TransportationDublin, IE
John Petkovic(Chief Executive Officer)Terri Foley(Deputy CEO and Chief Operating Officer)Con Barber(Chief Commercial Officer)Ken Dowling(Chief Financial Officer)Padraig Conneely(Chief Technical Officer)Soichiro Haneda(Chief Strategy Officer)
Co-investorsSumitomo Mitsui Finance and Leasing
Fund performance · per public LP disclosures · 3
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Turning Rock Fund IIILPs: Chicago Teachers' Pension Fund | 2024 | — | — | 1.07x | 0.44x |
| Turning Rock Fund IILPs: Michigan Municipal Employees' Retirement System, District of Columbia Retirement Board, Chicago Teachers' Pension Fund | 2021 | — | — | 1.19x | 0.44x |
| Turning Rock Fund ILPs: Michigan Municipal Employees' Retirement System, Chicago Teachers' Pension Fund | 2018 | — | 11.8% | 1.20x | 1.03x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What sectors does Turning Rock focus on?
- Turning Rock focuses on Sector Agnostic.
- Where is Turning Rock located?
- Turning Rock is headquartered in New York, US.
- Who does Turning Rock co-invest with?
- Turning Rock most often shares deals with Fortress Investment Group, Sumitomo Mitsui Finance and Leasing, The Riverside Company, among 3 tracked co-investors.
Media · Podcasts & interviews
featuring the teamEp. 7 -The U.S. Private Credit Market (with Maggie Arvedlund of Turning Rock Partners) | Private... - YouTube
S&P Global Market Intelligence · Maggie Arvedlund
Images
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