The latest in funds and investment news from across North America.

Revelstoke Capital Partners
Private equity house Revelstoke Capital Partners, which concentrates on healthcare services, has completed raising money for Revelstoke Capital Partners Fund II, LP and Revelstoke Single Asset Fund I, LP and collectively with RCP Fund II.

Since the firm was set up in 2013 Revelstoke has raised more than $2.3 billion in equity commitments across various investing entities and has invested in 17 platform companies and 48 add-on acquisitions.

RCP Fund II, with $714 million of commitments, was oversubscribed, exceeding its target of $500 million and reaching its hard cap.

RSAF I, with $660 million of commitments, was also oversubscribed. Concurrently with the closing of RSAF I, the funds acquired Upstream Rehabilitation, a provider of outpatient physical therapy services in the US through a network of 746 clinics across 27 states. 

Revelstoke's investment team will continue to be led by general partners Simon Bachleda, Russell Cassella, Eric Shuey and Andrew Welch.

Houlihan Lokey Capital served as placement agent for RCP Fund II, and PJT Park Hill served as financial advisor to RSAF I. Simpson Thacher & Bartlett LLP provided legal advice to the funds.

Leonard Green & Partners
Leonard Green & Partners, based in Los Angeles, has held the final closings of its eighth flagship private equity fund, Green Equity Investors VIII and its inaugural dedicated middle-market fund, Jade Equity Investors.

LGP closed on $12 billion of committed capital for GEI VIII and $2.75 billion for Jade. Both funds were over-subscribed and closed at their respective hard caps.

Family offices, endowments, pensions, and sovereign wealth funds were among the investors into the funds, the firm said in a statement today.

The partners of LGP committed a total of $750 million across the two funds. LGP is led by 15 partners, including managing partners John Danhakl and Jonathan Sokoloff and senior partners John Baumer and Jonathan Seiffer.

Gibson, Dunn & Crutcher LLP served as fund counsel. LGP did not engage any intermediaries in the raising of the fund. LGP's prior fund, GEI VII, closed in 2016 with committed capital of $9.6 billion.