Denver-based private equity firm Revelstoke Capital Partners raised $1.7 billion for its latest fund, far exceeding its target of $1 billion.
Revelstoke Capital Partners Fund III is the latest offering that is focused on working with entrepreneurs and management teams to build market-leading healthcare services companies. The team invests roughly $25 million to $350 million in companies with at least $5 million in EBITDA.
“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,” said Simon Bachleda, co-founder and managing partner of Revelstoke, which manages $5.8 billion in assets.
Since its 2013 inception the firm has raised three flagship funds, three single-asset continuation vehicles and numerous co-investment vehicles. The firm has raised $3.7 billion for its core strategy since 2018 alone.
“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 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 served as placement agent, and Simpson Thacher & Bartlett provided legal advice to RCP Fund III.
