<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001759201</cik>
        <entityName>Oak Hill Capital Partners V (Management), L.P.</entityName>
        <issuerAddress>
            <street1>ONE STAMFORD PLAZA, 263 TRESSER BLVD</street1>
            <street2>15TH FLOOR</street2>
            <city>STAMFORD</city>
            <stateOrCountry>CT</stateOrCountry>
            <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
            <zipCode>06901</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>203-328-1600</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2018</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Tyler</firstName>
                <middleName>J.</middleName>
                <lastName>Wolfram</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Stamford Plaza, 263 Tresser Blvd</street1>
                <street2>15th Floor</street2>
                <city>Stamford</city>
                <stateOrCountry>CT</stateOrCountry>
                <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                <zipCode>06901</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Vice President and Director of the Ultimate General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>N.</middleName>
                <lastName>Cherry</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>65 East 55th Street</street1>
                <street2>32nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Ultimate GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>R.</middleName>
                <lastName>Monsky</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>65 East 55th Street</street1>
                <street2>32nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Assistant Secretary of the Ultimate GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>M.</middleName>
                <lastName>Taylor</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Stamford Plaza, 263 Tresser Blvd</street1>
                <street2>15th Floor</street2>
                <city>Stamford</city>
                <stateOrCountry>CT</stateOrCountry>
                <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
                <zipCode>06901</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Treasurer of the Ultimate GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Allan</firstName>
                <middleName>I.</middleName>
                <lastName>Kahn</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>65 East 55th Street</street1>
                <street2>32nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Assistant Secretary of the Ultimate GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Steven</firstName>
                <middleName>G.</middleName>
                <lastName>Puccinelli</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>65 East 55th Street</street1>
                <street2>32nd Floor</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10022</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the Ultimate GP of the Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000950142-18-002383</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2018-12-21</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>3000000000</totalOfferingAmount>
            <totalAmountSold>92890000</totalAmountSold>
            <totalRemaining>2907110000</totalRemaining>
            <clarificationOfResponse>The Total Offering Amount is for the Issuer and its parallel vehicles. Total Amount Sold is for the Issuer only. Total Amount Sold for the Issuer and its parallel funds is $2,651,671,956.47.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>30</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Customary management fees will be paid to Oak Hill Capital Management, LLC, an entity ultimately controlled by certain individuals listed in Item 3 above.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Oak Hill Capital Partners V (Management), L.P.</issuerName>
                <signatureName>/s/ Allan I. Kahn</signatureName>
                <nameOfSigner>Allan I. Kahn</nameOfSigner>
                <signatureTitle>Assistant Secretary of the Ultimate GP of the Issuer</signatureTitle>
                <signatureDate>2019-12-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
