Renovus Capital Partners Closes Fourth Private Equity Fund, Oversubscribed at $875 Million
– Renovus Capital Partners, a Philadelphia-area private equity firm, closed its fourth private equity fund, Renovus Capital Partners IV Core Buyout, L.P. (Renovus IV), raising $875 million.
– Renovus was founded in 2010 and specializes in investments in the Knowledge & Talent sectors, including Education, Technology Services, Healthcare Services, and Professional Services.
– The $875 million raised includes $825 million from limited partners and the U.S. Small Business Administration, with $50 million from the general partner.
– Renovus IV was significantly oversubscribed, exceeding its $750 million target due to strong demand from existing and new investors.
– Limited partners include a diverse range of institutions such as university endowments, foundations, pension funds, insurance companies, banks, family offices, and industry executives globally.
– Atif Gilani, Founding Partner:
“We are grateful for the continued support from our partners, which reflects their confidence in our strategy and execution capabilities.”
– Jesse Serventi, Founding Partner: “Our goal is to continue to deliver top-tier outcomes for our portfolio companies and limited partners alike.”
– Bradley Whitman, Founding Partner:
“Renovus IV is off to a great start with its first investment scheduled to close next week and a robust pipeline of prospective investments ahead.”
– Renovus raised its first multi-asset continuation fund at $325 million earlier this year and has raised over $1 billion across three prior private equity funds, managing over $2 billion in private equity assets.
– The fund’s strategy will focus on control investments in founder-owned small and mid-sized businesses in the lower middle market, aiming to scale and professionalize them.
– Renovus IV’s first investment is set to close next week, with a robust pipeline of future deals.
– The firm was advised by Morgan Lewis and Winston & Strawn LLP, with Houlihan Lokey as the primary placement agent.