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Laxman Pai, Opalesque Asia: Financial services-focused Reverence Capital has hit a $1.2bn hard cap for the final close of its latest investment vehicle, Reverence Capital Opportunities Fund II.
The New York-based firm was initially seeking $750m for Fund II but was able to surpass this amount with the support of a global pool of institutional investors.
The Fund received strong support from a diverse group of institutional investors across North America, Europe, and Asia.
Founded in 2013 by Milton Berlinski, Peter Aberg, and Alex Chulack, 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.
Atlantic-Pacific Capital, a global placement and advisory firms dedicated to raising capital for alternative investments, served as a placement agent on this fundraise.
"Reverence is a highly respected firm with deep expertise and prior success within the financial services sector. It was a pleasure collaborating with their team and we are very pleased that institutional investors recognized Reverence's differentiated approach to financial services," said Raed Elkhatib, President & CEO of Atlantic-Pacific.
Milton Berlinski, Co-Founder and Managing Partner of Reverence, further said, "Atlantic-Pacific did a good job in helping to expand our LP base and raise global awareness of Reverence. We are very pleased and grateful for the support of our highly respected limited partners."
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