Private equity firm Revelstoke Capital Partners LLC has closed its first fund with $303 million in capital commitments.
Investors in the new fund, Revelstoke Capital Partners Fund I LP, include insurance companies, endowments, fund of funds, pension plans, sovereign wealth funds and family offices. Including pre-institutional fund capital, Revelstoke has now raised $515 million.
Revelstoke, headquartered in Denver, focuses on health care and business services. One of the firm's portfolio companies, Schryver Medical Sales and Marketing LLC, acquired Main Street Clinical Laboratory Inc. and On-Site Imaging Solutions Inc. in order to expand. Revelstoke's other businesses include Crossroads Holding LLC, a rehabilitation center, and Encore Rehabilitation Centers, which provides rehab and management services.
Beartooth Advisors was lead fundraising adviser. Ropes & Gray LLP provided legal counsel.
Other firms that have closed funds recently include Portfolio Advisors LLC with a $437 million fund of funds, and Comvest Partners, with an $893 million private equity fund.