Renovus Capital Partners, a Philadelphia-area private equity firm, announced the closing of its fourth private equity fund, Renovus Capital Partners IV Core Buyout LP. The fund was significantly oversubscribed with total commitments of $875 million.
Founded in 2010 by three long-time colleagues, Renovus specializes in investing in knowledge and talent sectors, including education, technology services, healthcare services, and professional services. and Renovas IV closed with total commitments of $875 million. This includes $825 million from limited partners and the U.S. Small Business Administration through Renovas’ participation in the SBIC program, and $50 million from the general partner.
Strong demand from both existing and new investors has helped Renovas IV exceed its $750 million goal. Additionally, Renovus IV’s limited partners include a diverse mix of university endowments, foundations, pension funds, insurance companies, banks, family offices, and industry executives in the United States and abroad.
Earlier this year, Renovus announced the closing of its first multi-asset continuing fund at $325 million. The firm has also raised more than $1 billion across its three previous private equity funds and currently manages more than $2 billion in private equity assets.
Renovus was advised by Morgan Lewis, with Winston & Strawn and Houlihan Lokey serving as lead introducing agents.
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“We are grateful for the continued support of our partners, which reflects their confidence in our strategy and ability to execute. We look forward to welcoming new limited partners from around the world, including many of our teams, and it’s rewarding to see their experience and commitment resonate with both new and existing LPs. They have been with us since our inception about 15 years ago.”
-Founding Partner Atif Gilani
“Our goal is to continue to deliver the highest level of results for both our portfolio companies and our limited partners. As we scale and specialize, we have demonstrated a consistent track record of generating both EBITDA growth and multiple expansions upon exit.”
-Founding Partner Jesse Cerventi
“Renovas IV is off to a great start with our first investment expected to close next week and a strong pipeline of promising investments ahead. Thank you for your support.”
-Founding Partner Brad Whitman
