Insight

Riverarch racks up $1bn for new fund

Fund IV's investors include The PNC Financial Services Group, the private equity firm's longtime partner.

-
  • The fund will invest in middle market companies across the distribution, business services and specialized manufacturing sectors in North America and Europe
  • Riverarch has already made four investments in Fund IV
  • Based in Pittsburgh, Riverarch is the private equity affiliate of The PNC Financial Services Group

Riverarch Equity Partners, formerly known as PNC Riverarch Capital, has closed its latest fund at $1 billion.

Fund IV’s investors include The PNC Financial Services Group, the private equity firm’s longtime partner.

“We are grateful for the continued support of PNC, our advisors, and our partners over the last thirteen years,” said Riverarch founder and Partner Michael Rost in a statement. “Our team is excited for the opportunity ahead as we look to deploy Fund IV and continue to grow and build Riverarch.”

The fund will invest in middle-market companies across the distribution, business services and specialized manufacturing sectors in North America and Europe. Riverarch seeks to deploy $40 million to $100 million of capital per investment.

Riverarch has already made four investments in Fund IV.

Based in Pittsburgh, Riverarch is the private equity affiliate of The PNC Financial Services Group. The firm was founded in 2011.