Pennsylvania-based middle market private equity firm Riverarch Equity Partners, formerly PNC Riverarch Capital, has closed its latest private equity fund, Riverarch Equity Partners IV (Fund IV), with $1.bn in commitments.
According to a press release, GPs represented 4% of total commitments. Fund IV will continue the strategy of its predecessor funds, investing in middle market companies across the value-added distribution, business services and specialised manufacturing sectors in North America and Europe. The firm seeks to deploy $40m to $100m of capital per investment and has already made four investments in Fund IV.
Riverarch was founded in 2011 and is the private equity arm of the PNC Financial Services Group. The firm has made 34 platform investments and realised 21 of said investments since its inception.
