Revelstoke Capital Partners

What Revelstoke Capital Partners does

Revelstoke Capital Partners is a healthcare-focused private equity firm founded in 2013 and headquartered in Denver, Colorado, that invests $50 million to $500 million of equity per platform in healthcare services, healthcare technology, and health and wellness companies. The firm targets fragmented healthcare sub-sectors including behavioral health, home health and hospice, outpatient physical therapy, physician practice management, rural healthcare, ophthalmology, renal care, infusion therapy, medical aesthetics, veterinary services, and managed IT/cybersecurity for regulated industries. As of 2026, Revelstoke manages approximately $6.8 billion in assets under management across multiple fund vehicles (including RCP Funds I, II, III and EPIC funds), has completed 208 acquisitions since inception (176 add-ons), and employs 48 professionals. The firm earned a passive minority investment from Bonaccord Capital Partners (a P10, Inc. subsidiary) in October 2023.

The firm's core differentiator is its in-house Portfolio Transformation Group (PTG), an operating platform with six functional verticals: Strategy & Operations, Strategic Partnerships & Procurement, Technology, Talent, Responsible Investment, and Capital Markets. The PTG provides portfolio companies with dedicated operating resources analogous to a consulting function embedded within the sponsor, supplemented by senior technology and AI/Data Science leadership. Notable proprietary/portfolio-company technology assets include MediQuant's DataArk (enterprise healthcare data archive and interoperability platform), HealthAxis's AxisCore (cloud-enabled core payer administration platform), and Vi Labs (enterprise AI platform with predictive analytics, generative AI, and AI agents serving 100+ healthcare customers, 190M+ lives, and generating $2B+ in claimed value). In June 2026, Revelstoke formally launched the Revelstoke Frontier initiative to accelerate AI and automation adoption across the firm and portfolio.

Revelstoke generates revenue through management fees and carried interest on its private equity funds, with funds distributed exclusively to qualified institutional investors via private placement. Deal sourcing combines a research-driven thematic approach with direct outreach to founders, physician-leaders, and management teams. The firm is privately held, headquartered at 260 North Josephine Street, Suite 500, Denver, and is led by Founder & Managing Partner Simon Bachleda, Managing Partner Russell Cassella, and a broader partnership including Andrew Welch, Anthony Hayes, Michael Nutting, Samantha Gordon Webb (Head of PTG), and Greg Pupo (Partner, Investor Relations).

Name

Revelstoke Capital Partners

Legal name

Revelstoke Capital Management LLC

Website

https://revelstokecapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

Revelstoke Capital Partners is a healthcare-focused private equity firm founded in 2013 that invests $50M-$500M of equity per platform in healthcare services, technology, and wellness companies, managing approximately $6.8 billion in AUM through its in-house Portfolio Transformation Group.

Ownership category

akta.pro rank

Product category

Healthcare Private Equity

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

akta.pro secondary industry

Recapitalizations & Liability Management (Tender/Buybacks, Refinancing) (FSAHACAI)

Keywords

• Healthcare private equity
• Middle market investing
• Portfolio value creation
• Healthcare growth capital
• Healthcare buyout investing

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Private Equity Fund Management: Revenues generated through management fees and carried interest (performance fees) from managing private equity funds focused on healthcare services, healthcare technology, and health and wellness. The firm manages approximately $6.8 billion in assets under management across multiple fund vehicles.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Revelstoke Capital Partners is a healthcare-focused private equity firm that invests in healthcare services, healthcare technology, and health and wellness companies. The firm manages approximately $6.8 billion in assets under management across multiple fund vehicles (RCP Funds I, II, III and EPIC funds), deploying equity investments ranging from $50 million to $500 million per platform. The firm supplements its capital with operational support via an in-house Portfolio Transformation Group (PTG) that provides strategy, operations, finance, technology, talent, and capital markets expertise to portfolio companies.

Product overview

Revelstoke Capital Partners is a healthcare-focused private equity firm that invests in healthcare services, healthcare technology, and health and wellness companies. Rather than offering a unified software product, the firm provides investment capital and operational expertise through its Portfolio Transformation Group (PTG). The firm's portfolio includes companies like Vi Labs (AI-powered patient platform), along with healthcare services across behavioral health, veterinary, medical aesthetics, home health, and other sectors. Revelstoke Frontier is an internal initiative launched in 2026 to accelerate AI and automation adoption across the firm and its portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Portfolio Transformation Group: In-house operating team providing strategy, operations, technology, talent, responsible investment, and capital markets expertise to portfolio companies
• Revelstoke Frontier

Products and services

• Revelstoke Capital Partners Private Equity Funds
• Portfolio Transformation Group (PTG)

Quantifiable outcome

• 208 total acquisitions completed since inception in 2013
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability7 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered supporting.

• Guggenheim Securities, LLCsupportingImplementation/ SI/ Consulting Partner · 15 April 2025Guggenheim Securities, LLC served as financial advisor to Revelstoke Capital Partners in the recapitalization of AOM Infusion in April 2025.
• Houlihan LokeysupportingImplementation/ SI/ Consulting Partner · 15 April 2025Houlihan Lokey served as financial advisor to Revelstoke Capital Partners in the recapitalization of AOM Infusion in April 2025.
• McGuireWoods LLPsupportingImplementation/ SI/ Consulting Partner · 15 April 2025McGuireWoods LLP served as legal counsel to Revelstoke Capital Partners in the recapitalization of AOM Infusion in April 2025. McGuireWoods also advised Revelstoke and The Care Team on the acquisition of Traditions Health hospice and palliative care operations.
• Jefferies LLCsupportingImplementation/ SI/ Consulting Partner · 15 April 2025Jefferies LLC served as financial advisor to AOM Infusion in its recapitalization with Revelstoke in April 2025.
• Moelis & CompanysupportingImplementation/ SI/ Consulting Partner · 15 April 2025Moelis & Company served as financial advisor to AOM Infusion in its recapitalization with Revelstoke in April 2025.
• Q AdvisorssupportingImplementation/ SI/ Consulting Partner · 16 January 2025Q Advisors acted as financial advisor to Revelstoke Capital Partners in the strategic investment in Omega Systems in January 2025.
• Harris WilliamssupportingImplementation/ SI/ Consulting Partner · 16 January 2025Harris Williams served as financial advisor to Omega Systems in the strategic investment by Revelstoke Capital Partners in January 2025.
• Paul HastingssupportingImplementation/ SI/ Consulting Partner · 16 January 2025Paul Hastings served as legal counsel to Omega Systems in the strategic investment by Revelstoke Capital Partners in January 2025.
• StoutsupportingImplementation/ SI/ Consulting Partner · 15 November 2024Stout served as exclusive financial advisor to NAKEDMD in Revelstoke's growth investment in November 2024.
• Winston & Strawn LLPsupportingImplementation/ SI/ Consulting Partner · 15 November 2024Winston & Strawn acted as legal counsel to Revelstoke in the NAKEDMD investment. Winston & Strawn has served as legal advisor on multiple Revelstoke transactions.
• Kirkland & EllissupportingImplementation/ SI/ Consulting Partner · 10 October 2023Kirkland & Ellis served as legal advisor to both Revelstoke Capital Partners and Bonaccord Capital Partners in the October 2023 minority investment transaction.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Linden Capital Partners: Chicago-based private equity firm exclusively focused on the healthcare industry across services, products, and distribution. Most directly comparable to Revelstoke given its healthcare-only thesis, middle-market platform orientation, and focus on management-led buyouts.
• Welsh, Carson, Anderson & Stowe: Healthcare-focused private equity firm with a long-standing, dedicated healthcare practice investing across services, technology, and information businesses. Directly comparable to Revelstoke on healthcare specialization and middle-to-upper-middle-market platform investments.
• New Mountain Capital: Growth-oriented private equity firm with a deep healthcare franchise spanning services, technology, and information sectors. Comparable to Revelstoke in its healthcare concentration and operating-value-creation orientation, though typically investing at larger check sizes.
• Avista Capital Partners: Healthcare-focused middle-market private equity firm investing in healthcare services, pharmaceutical services, and healthcare technology. Directly comparable on sector focus and middle-market platform thesis.
• KSL Capital Partners: Denver-based private equity firm with a dedicated healthcare and travel-leisure practice and a similar in-house operating-team model. Comparable to Revelstoke on geography, middle-market healthcare focus, and operational value creation approach.
• H.I.G. Capital: Global alternative investment firm with a healthcare-focused middle-market practice executing platform and add-on investments. Comparable to Revelstoke on middle-market healthcare services investing and bolt-on acquisition strategy.

Broad incumbents

• TPG Capital: Large, diversified alternative asset manager with a dedicated TPG Healthcare practice. Comparable as a competing healthcare-focused capital provider but operates at materially larger AUM and broader sector mandate than Revelstoke.
• Warburg Pincus: Global growth-oriented private equity firm with a long-standing healthcare franchise. Comparable on healthcare services and technology investing, but at substantially larger scale and with broader geographic mandate than Revelstoke.

Emerging players

• Cimarron Healthcare Capital: Healthcare-focused private equity firm pursuing lower-middle-market healthcare services and technology platforms. Comparable thesis to Revelstoke but operates at smaller deal sizes and earlier stage.

Others

• Bonaccord Capital Partners: Subsidiary of P10, Inc. (NYSE: PX) that made a passive minority investment in Revelstoke in October 2023. Not a direct competitor but adjacent — provides capital to mid-sized alternative asset managers like Revelstoke and represents a strategic capital partner rather than a peer manager.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/revelstokecapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments18 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Revelstoke Capital Partners