Reverence Capital Seeks $1.7 Billion for New Buyout Fund

Reverence Capital Partners is seeking $1.7 billion for its third private-equity fund, re-entering the market less than two years after a predecessor buyout vehicle exceeded its target by 60%, according to people familiar with the matter.

If the New York firm hits its goal, its latest fund would be about 42% larger than its Reverence Capital Opportunities Fund II LP, which the firm closed with $1.2 billion in March 2020.

Reverence Capital Partners is a private investment firm focused on thematic investing in leading global, middle-market financial services businesses through control and influence-oriented investments in five sectors: (1) Depositories and Finance Companies, (2) Asset and Wealth Management, (3) Insurance, (4) Capital Markets and (5) Financial Technology/Payments.

The firm was founded in 2013 by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The Partners collectively bring over 90 years of advisory and investing experience across a wide range of financial services sectors.

Source: Wall Street Journal