Healthcare-Focused Revelstoke Catapults to $1.7B for Third Vehicle
Private equity firm Revelstoke Capital Partners raised $1.7 billion for its third fund, Revelstoke Capital Partners Fund III, and various affiliated investment vehicles to focus on the healthcare industry. The fund easily exceeded its $1 billion target.
The firm hauled about $300 million for its 2015-vintage debut vehicle and $714 million for its sophomore fund in 2019.
Denver-based Revelstoke has also raised three single-asset continuation vehicles and several co-investment vehicles since it was founded in 2013.
“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,” said Simon Bachleda, Co-Founder and Managing Partner of Revelstoke.
Revelstoke has approximately $5.8 billion of assets under management. Since the firm’s inception, it has completed 184 acquisitions, which include 26 platform companies and 158 add-on acquisitions.
Houlihan Lokey Capital acted as a placement agent for the fundraise, and Simpson Thacher & Bartlett provided legal advice.