Oak Hill Capital Partners is a private equity firm that have their headquarters in New York city. They manage funds with more than $19 billion of initial capital commitments after their inception from leading entrepreneurs, foundations, corporations, endowments, pension funds and global financial organization. Oak Hill Capital is one of other Oak hill partnerships and each of them has one independent management team. In the past 30 years, the professionals at Oak Hill and the predecessors have invested about 81 remarkable private equity transactions throughout broad segments of U.S and international economies. Oak Hill applies an industry centric uses a theme-based approach for investing in the sectors like Consumer, industrials, retail and distribution, services and media and communication. Oak Hill works in partnership with the management to carry out its strategic and operational initiatives to make a franchise value as it is written on their website.
But I had a different experience than what they promise. And I will never recommend anyone to go to them and here is why:
Never go to Oak Hill for help if you want to save your valuable time and money.
I had my own small business. We have always been providing the best to our customers since we started our business. We had limited funds as it was a medium sized company. So we needed more funds to expand and keep it up with the competitive market. We never had an investment partner before this. But because I was in dire need of more funds and I could not manage so much all by myself, I decided to get a funds partner. I chose Oak Hill Capital Partners and that turned out to be the worst decision of my life for my business.
We first had a meeting eith them and it went well. They promised us and assured that they will come up with the best of solutions and ideas for our business. They even came to our office to get the idea of the nature of our work. They seemed to be very dedicated towrds their work and I was very satisfied with their approach. At first I was very positive about their work and I thought it was the best ever help I could get for my business. But as more time passed by I realized I was gravely wrong. The agreement was 70-30% partnership ans signed in presence of both the partners. I was very fine with it as I wanted to start with it for more funds. But then as days passed, I realized they were in no mood to help us but they were just inclined towards making profits for themselves. While signing the agreement, we kept this thought alive that taking help in a business does not make us incompetent in any way. But I was wrong. These people started appearing opportunistic and they were forcing on us things that were not feasible for our business. Just in a year of the agreement, the business reached bankruptcy. The staff, employees and laid off workers were not getting paid. Oak Hill people started being extremely rude with them. The employees were not valued and they had no respect. Finally the business reached a bankruptcy stage and we had to shut doors forever. All our potential customers were lost and I had no other way to carry forward the business. The whole agreement was just a farce and we got nothing out of it. They profitted only. I spoke to them and asked them how this all happened after they joined us. How did we go bankrupt like this when they were supposed to help us to grow! They replied in such a way that indicated towards blaming us for the whole fiasco. They said that it was our fault. They denied in the first place that their interference caused all the problem. They passed the buck on us and we had no other way to fight them back. If you want to save yourself from going pennyless, please avoid this organization. They are fraud and they do not know anything about the market. Moreover they will just do everything that profits them and not you. Beware of such people.
After this I carried out a detailed research about them being a scam. I found some important information that I am going to share with you all today.
The popularity of commercialized hospice industry is concerning as a lot of time they do not provide the care they promise with compassion.
To give ypu a brief background, hospice movement started as a non-profit, small, community-based organizations who intended to provide compassionate care to terminally ill people. But, in the US, the hospice movement has been joined by the commercial hospices that are generally run by big corporations who prioritizes profits before compassion. But on a sad note, the hospice industry in the U.S. is growing accompanied by surge prices in the enrolling of patients who are not close to death and in some instances this has exposed the patients to the more powerful doses of pain-killers that are used by hospice providers as a part of their routine. And this is alarming as the painkillers do more harm than any good to the patients. The responsibilty of the hospice is thus lowered when patients are induced with painkillers.
The modern industrialized hospices, that are owned and run by large profit making commercial corporations also enroll patients who are not terminally ill just for increasing their revenue. In my research I found out one such corporation called Guardian Hospice and Accentcare that is owned by Oak Hill Capital Partners.
There are cases being reported everyday where hospices, especially those owned and run by large for-profit corporations, have enrolled patients who were not terminally ill. These enrollments may be motivated by the urge for more money but put the patients at risk.
Hospice patients are receiving large doses of psychoactive narcotics and drugs, which leads to adverse side effects that may also cause death. Hospice patients sometimes do not, get treatments for new found acute problems, even if they are potentially curable. So, the hospice patients die from untreated infections that could have been cured by antibiotics. This hospice owned by the Oak Hill has similar allegations against them.
The next thing I found out that was against the Oak’s rogue partner:
Oak has been facing numerous allegations that their “rogue” partner were carrying out a fraud over more than a decade.
In the year 2002, Iftkar Ahmed, a man from Assam, India came at Oak. Also known as Ifty went from Harvard to Goldman then to his final venture capital company, Oak Investment Partners, before accusing for insider trading and defrauding Oak. The funds by Oak launched after 2000 were relatively disasterous. As fundraising became difficult, companies started focussing on sectors like the financial technology, health care, or private investments in public equity .
In April, the problem intensified rapidly for Oak. The securities and Exchange Commission (SEC) issued an accusation against Ifty Ahmed, who was an Oak general partner since 2004 and his friend, Kanodia, who was a private equity investor for insider trading. The two allegedly raised more than $1 million trading in shares and an option of Apollo tyres in India. In May, the SEC issued more devastating charges revealing that Ifty manipulated about 9 Oak investments for personal gain that too by making fake invoices more often, by making up numbers or just by listing fake exchange rates. In all of these cases, no one at Oak bothered to look over what Ifty was doing.
For the venture capital organizations that are built on trust between partners, fraud is a big challenge. With $9 billion to insulate themselves but Oak still could keep their doors open — even after Ifty tried to countersue for $133 million while going underground in India. After internal investigations carried out by Oak, they were understood that Ifty Ahmed was a rogue employee who more than once kept on outwitting the policies and procedures of Oak in carrying out the criminal offence.
However in May, this man who caused all this scandal disappeared after swindling his company and fled to India.
After I got to know all this I could understand that it was me who took the wrong decision in trusting them. They have a history already of scam and fraud and I did no research before that. I just googled about them and got fooled by the positive reviews that could be staged as a friend told me. Yes, positive reviews are written by people who are hired by the company concerned and they pay these people for writing good things about them. I was trapped by this and trusted Oak Hills with my business. What happened to me is still affecting my life. I had to take loans and borrow money from friends and relatives to survive. I have taken a job and that pays me not even 20% of what I used to make in my business. My business was doing well until I joined hands with Oak Hill Capital Partners. We were best at doing our job and we provided the best services to the customers. Word of mouth was the only way we were getting more customers without advertisements. Seeing this positive response from the people I wanted to expand our business. Generally, a company seeks outside help for funds when that is not possible in the real time basis. I calculated and saw that I would not be able to manage so much oney all alone from the profit I make. So if I wanted, I would have to wait for few months and have saved that kind of fund before going for the expansion. But given the high competion in the market I did not want my company to lag behind for any longer. I wanted the expansion to take place as soon as possible so that we could live up to the competition. That is when I contacted Oak Hill Capital Partners after searching them on the internet.
But in the first few days they seemed to be very promising before Oak hill capital partners started showing signs of being opportunistic. They started to dictate the terms that were wrongfully defined. I hired an attorney to access everything. When they sent me the final draft, I was shocked to see that there was nothing for us. Not a thing! The entire agreement was structured in a way that clearly gave them more benefits and advantages.
I talked about it to them and they replied saying that they can do nothing about it. They were to cover for the losses if there was any but they had nothing for us in exchange. They kept me waiting for about a month and then sent us the agreement that no business owner could accept. I know they did it purposely.
I have no problem that they rejected us but they should have had the guts to tell me the same thing on my face. I trusted them blindly and that was my fault. They seemed to be very positive during the meetings we had with both the teams. They backed out without giving us proper reason and also kept us waiting wasting our time. They behaved in the beginning as if everything was fine and they would do it all for helping us. But then they did nothing. I trusted them and kept on waiting. I provided them with all the information that are confidential to the company and could cost me huge problem if that privacy was compromised. But after all this, they did not even feel the need to notify why they backed out. Instead they found out an lame excuse and drafted a stupid clauses so that we deny their services. These people are very much manipulative and very dangerous for your business. If you want to save time and find someone who really cares, never trust them to help you. Oak Hill is just a scam.