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Turning Rock

Venture debt

New York · 21 people tracked

Also known as Turning Rock Partners, L.P.

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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.

Invests inSector AgnosticNew YorkUnited States

Source: firm website, verified Sep 29, 2026.

HQ
New York, NY, US
Instruments
Debt
Founded
2017
AUM
$1.4B
Tracked investments
3

Team · 21 people

from the firm's website
Guantong Sun· Senior Vice President
Kate Shepherd· Media Contact

What they invest in

from 2 of 3 portfolio companies

Cleantech ×1Climate Tech ×1Energy ×1Fintech ×1Hardware ×1Logistics & Supply Chain ×1Mobility & Transportation ×1

HQs:Ireland×1

Investments · 3 tracked

founders shown can be your intro path
Rive Investmentrive-investment.com

RIVE 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

SMFL Helicopters Limitedsmflh.aeroin𝕏

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)inTerri Foley(Deputy CEO and Chief Operating Officer)inCon Barber(Chief Commercial Officer)inKen Dowling(Chief Financial Officer)inPadraig Conneely(Chief Technical Officer)inSoichiro Haneda(Chief Strategy Officer)in

Co-investorsSumitomo Mitsui Finance and Leasing

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Seiinvestorportal

Fund performance · per public LP disclosures · 3

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Turning Rock Fund IIILPs: Chicago Teachers' Pension Fund2024——1.07x0.44x
Turning Rock Fund IILPs: Michigan Municipal Employees' Retirement System, District of Columbia Retirement Board, Chicago Teachers' Pension Fund2021——1.19x0.44x
Turning Rock Fund ILPs: Michigan Municipal Employees' Retirement System, Chicago Teachers' Pension Fund2018—11.8%1.20x1.03x

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 team

Ep. 7 -The U.S. Private Credit Market (with Maggie Arvedlund of Turning Rock Partners) | Private... - YouTube

S&P Global Market Intelligence · Maggie Arvedlund

Images

Turning Rock photoTurning Rock photoTurning Rock photoTurning Rock photoTurning Rock photoTurning Rock photo

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