Bow River Capital has closed its third private equity fund, Bow River Private Equity Fund III LP (Fund III), with $590 million in capital. The firm’s newest fund was oversubscribed and exceeded its target of $500 million. Fund III was supported by both existing and new investors.
“We are pleased by our limited partners’ support of Fund III and are excited to work with such a highly respected group of investors,” said Greg Hiatrides, a managing director and head of Bow River’s private equity strategy. “Access to alternative asset investing is more readily available than ever and we are fortunate to have the trust of our limited partners.”
Bow River invests in the lower middle market across three asset classes, including private equity, real estate, and software growth equity. Within private equity, the firm makes control investments in companies that have revenues from $25 million to $200 million and EBITDA from $5 million to $20 million. Sectors of interest include industrial services, healthcare services, and business services.
In June 2022, Bow River’s private equity group acquired One10, a Minneapolis-headquartered provider of incentive and marketing services to enterprise, and small and medium-sized businesses.
“We see a significant opportunity as leading enterprises continue to recognize the need to invest in their employee and channel relationships. As we evaluated the industry, One10 stood out as an ideal platform company due to the strength of leadership and depth of One10’s professionals,” added Mr. Hiatrides.
Bow River was founded in 2003 and is headquartered in Denver.
Perkins Coie provided legal services to Bow River on this fundraise and no placement agent was used.
© 2022 Private Equity Professional | August 4, 2022