Revelstoke Capital Partners has closed Revelstoke Capital Partners Fund III LP (RCP Fund III), and other affiliated investment vehicles, with $1.7 billion of combined capital. RCP Fund III closed markedly above its original target of $1 billion.
Denver-based Revelstoke invests from $10 million to $250 million in companies that have at least $5 million of EBITDA. Sectors of interest include healthcare services and healthcare technology. Since founding in 2013, the firm has completed 184 acquisitions, which include 26 platform companies and 158 add-on acquisitions.
“We are deeply grateful for the continued support from our existing investors and are delighted to welcome many new limited partners to Revelstoke,” said Russell Cassella, a managing partner at Revelstoke. “We are pleased with the continued expansion of our diverse investor base which includes a broad group of pension funds, sovereign wealth funds, financial institutions, endowments, and family offices from across the globe.
With the closing of RCP Fund III, Revelstoke – through three flagship funds, three single-asset continuation vehicles, and numerous co-investment vehicles – has approximately $5.8 billion of assets under management.
“We are exceptionally proud of the firm we’ve built over the last decade with the dedication and perseverance from our highly skilled team of investment professionals, in-house value creation specialists, and internal operations executives,” said Simon Bachleda, a co-founder and managing partner of Revelstoke. “We have never been more excited about the current market opportunity in the healthcare services sector, and we look forward to investing our new capital into compelling risk-reward investments while supporting our portfolio companies in their next stages of growth.”
“We believe that the healthcare services industry will prove to be highly resilient through market dislocations. Even as the global economy navigates a challenging environment, there remains significant demand for high-quality healthcare procedures, products, and services,” added Mr. Bachleda. “We will continue to be disciplined in our efforts to identify attractive investment opportunities in one of the largest and fastest growing sectors of the U.S. economy.”
Houlihan Lokey Capital was the placement agent for RCP Fund III and Simpson Thacher & Bartlett provided legal services.
© 2023 Private Equity Professional | August 8, 2023
