Renovo Capital, an operationally-oriented, lower middle market private equity firm focused on control equity investing, has completed fundraising for Fund III at the hard cap of $225 million. The successful closing is the result of a fundraising effort launched in September 2018 and brings total capital raised to more than $400 million since 2009.
The partners are pleased with the response to the third fund and grateful for the continued strong support of the investors. Renovo is also excited to add a number of prominent institutions to the investor base. Renovo’s investor base includes a diverse group of pension programs, global insurance companies, institutional asset managers, foundations, endowments and large family offices.
“Fund III will continue the investment strategy of making control equity investments in lower middle market specialty manufacturing and business services companies,” said David Hull, Managing Partner. Target investment opportunities typically range in size from $0 million to $20 million in EBITDA.
Since its founding, Renovo has completed over 20 middle market transactions. “Our focus in Fund III will be a continuation of the firm’s founding strategy, seeking complex situations in the lower middle market where we see multiple levers of value creation, to build businesses with long term strategic value,” said Don Jungerman, Managing Partner. Fund III seeks to invest $10 to $50 million in capital per portfolio-company, with significant additional investment capacity through its LP relationships.
Hunton Andrews Kurth provided legal counsel.
About Renovo Capital
Renovo Capital is a Dallas, TX-based private equity investment firm that invests in lower middle market specialty manufacturing and business services companies. Since its founding in 2009, Renovo has expanded from three founding members to 15 operating and investing professionals, raised over $400 million in committed capital and completed over 20 transactions. The firm targets investments in complex situations, seeking to build strategically valuable business platforms. For more information please visit renovocapital.com.
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Renovo Capital
David Hull
Office – 214.699.4969
david.hull@renovocap.com