Regal Healthcare Capital Partners Raises Over $600M for Fourth PE Fund 

New York-based Regal Healthcare Capital Partners, a healthcare-focused private equity firm, has raised $610 million in the final round for its fourth private equity fund, RHCP IV, surpassing its targeted goal of $550 million. 

The fund also raised roughly $575 million of external commitments, which will go towards investing in various lower-middle-market healthcare services companies across the United States, the firm said. 

“The quality and diversity of our Fund IV investor base speaks for itself, and we are deeply grateful to our longstanding partners and new investors alike for the trust they have placed in us,” said David Kim, MD and general partner at Regal. 

The oversubscribed fund comes almost five years after the launch of Regal’s third private equity fund, RHCP III, which raised $415 million, surpassing its initial target of $325 million, Regal said. 

Regal, which was founded in 2018, has raised about $1.3 billion in commitments across its first four funds. 

Lazard Asset Management served as the exclusive placement agent for the fundraising process, and Kirkland & Ellis acted as legal counsel to Regal. 

Regal Healthcare Capital Partners also targets equity investments of about $75 million per company, with a focus on businesses with between $20 million and $100 million in revenue and $2 million to $10 million in EBITDA, the firm said.