Renovus Capital Partners, a Philadelphia-based private equity firm specializing in the Knowledge & Talent sectors, has successfully closed its fourth private equity fund, Renovus Capital Partners IV Core Buyout, L.P. (along with its parallel fund vehicles, “Renovus IV”). This marks a significant achievement for the firm, as the fund was significantly oversubscribed, securing a total of $875 million in capital commitments.
Renovus IV closed with a total of $875 million in commitments, including $825 million from limited partners and the U.S. Small Business Administration through Renovus’ participation in the SBIC program, and $50 million from the general partner. The fund exceeded its target of $750 million due to strong demand from both existing and new investors.
Limited partners for Renovus IV include a diverse mix of university endowments, foundations, pension funds, insurance companies, banks, family offices, and industry executives from both the U.S. and abroad. This global appeal underscores the confidence investors have in Renovus’ strategy and execution capabilities.
Renovus IV will continue the firm’s successful strategy of making control investments in founder-owned small and mid-sized businesses in the lower middle market. The firm has a strong track record of identifying and investing in high-growth potential companies within the Knowledge & Talent sectors, which include Education, Technology Services, Healthcare Services, and Professional Services.
“We are grateful for the continued support from our partners, which reflects their confidence in our strategy and execution capabilities,” said Founding Partner Atif Gilani. “We are also excited to welcome new limited partners from across the globe, including institutions in Canada, Europe, the Middle East, and Asia. It is rewarding to see our team’s experience and commitment resonate with both new and existing LPs, many of whom have been with us since our inception nearly 15 years ago.”
Founding Partner Jesse Serventi stated, “Our goal is to continue to deliver top-tier outcomes for our portfolio companies and limited partners alike. We have demonstrated a consistent track record of sourcing great yet under-invested founder-owned companies, and over the course of our investment period scaling and professionalizing them, generating both EBITDA growth and multiple expansion at exit.”
Renovus IV has already made its first investment, which is scheduled to close next week. The firm has a robust pipeline of prospective investments and is poised for continued growth and success.
“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,” added Founding Partner Brad Whitman. “We thank our limited partners for their ongoing support as we begin to execute our value creation playbook.”
Renovus was advised by Morgan Lewis and Winston & Strawn. Houlihan Lokey served as the primary placement agent.
Renovus Capital Partners, founded in 2010, is a lower middle-market private equity firm specializing in the Knowledge and Talent industries. From its base in the Philadelphia area, Renovus manages over $2 billion of assets across its several sector-focused funds. The firm’s current portfolio includes over 30 U.S.-based businesses specializing in education and workforce development and services companies in the technology, healthcare, and professional services markets.
Renovus typically makes control buyout investments in founder-owned businesses, leveraging its industry expertise and operator network to make operational improvements, recruit top talent, and pursue add-on acquisitions.
Visit us at www.renovuscapital.com and follow us on LinkedIn.
