Reverence Capital Partners

What Reverence Capital Partners does

Reverence Capital Partners is a New York-based private investment firm founded in June 2013 by Milton Berlinski, Peter Aberg, and Alex Chulack, all former senior professionals at Goldman Sachs and General Atlantic. The firm pursues control and influence-oriented minority investments in middle-market financial services companies, supported by a network of 20+ special advisors with backgrounds at leading financial institutions including Goldman Sachs, Visa, AllianceBernstein, Freddie Mac, and Discover Financial. Reverence Capital has built a portfolio of 10+ operating companies spanning wealth management (Osaic, SEIA), asset management (Russell Investments, Allspring), banking (EverBank, DMG Bancshares, Flagstar), insurance (Venerable Holdings, Sunstar Insurance), specialty finance (CardWorks), and financial technology (Envestnet, CAIS, Ministry Brands).

Name

Reverence Capital Partners

Legal name

Reverence Capital Partners, L.P.

Website

http://www.reverencecapital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Reverence Capital Partners is a New York-based private investment firm founded in 2013 that makes control and influence-oriented minority investments in middle-market financial services companies across three strategies: private equity, structured credit, and real estate solutions.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investors, Nec (6799)

akta.pro industry

PRIMARYFSANADAI

Middle-Market Lending

Financial & Insurance/Private Equity & Venture Capital/Private Credit / Direct Lending Funds

Keywords

• Private equity funds
• Structured credit investing
• Middle-market investments
• Financial services investing
• Real estate solutions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Management Fees: Reverence Capital earns management fees from its private equity, credit, and real estate funds, typically calculated as a percentage of committed capital under management. These fees provide recurring revenue to support firm operations.
2. Carried Interest (Performance Fees): The firm earns carried interest from successful realizations in its investment funds, typically 20% of profits above a specified hurdle rate. This aligns investor and fund manager interests and constitutes the primary upside for the firm.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

Reverence Capital Partners is a private investment firm that raises and manages capital through three complementary strategies: Financial Services-Focused Private Equity, Structured Credit, and Real Estate Solutions. The firm deploys this capital into control and influence-oriented minority investments in middle-market financial services companies, providing growth capital, strategic guidance, and operational support to portfolio companies. Limited Partners include public and private pension plans, sovereign wealth funds, university endowments, foundations, family offices, and high-net-worth individuals.

Product overview

Reverence Capital Partners operates as a private investment firm with three complementary investment strategies: Financial Services-Focused Private Equity, Structured Credit (Reverence Credit Fund launched September 2020), and Real Estate Solutions (Reverence Real Estate Fund launched October 2024). The firm does not offer a unified software product but rather invests in and manages a portfolio of financial services companies. The portfolio spans wealth management (Osaic, SEIA), asset management (Russell Investments, Allspring Global Investments), specialty finance (CardWorks), insurance (Venerable Holdings, Sunstar Insurance Group), banking (EverBank, DMG Bancshares, Flagstar Financial), financial technology (Envestnet, CAIS), and church technology (Ministry Brands).

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Services-Focused Private Equity Private equity fund making control and influence-oriented minority investments in middle-market financial services companies, including asset management, banks, specialty finance, capital markets, financial technology, and insurance sectors. The fund invests in companies with established management teams and supports growth, acquisitions, and recapitalizations.
• Structured Credit Fund (Reverence Credit Fund) Structured credit investment fund focused on middle-market financial services companies, providing credit solutions across the capital structure. The fund complements the firm's private equity strategy with credit-oriented investment capabilities.
• Real Estate Fund (Reverence Real Estate Fund) Real estate investment fund that provides capital solutions for real estate assets and businesses, complementing the firm's private equity and credit strategies. The fund extends Reverence's multi-strategy platform into real estate.

Named customers10 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

Partnerships

Four partnerships are on record, tiered core and minor.

• Eide BaillycoreStrategic or Co-development Partner · 23 June 2026Reverence Capital entered into definitive agreement in June 2026 to make significant investment in Eide Bailly, a top 20 U.S. accounting firm with over $800 million in annual revenue and 3,500 employees. Investment aims to accelerate growth in talent, technology, and infrastructure. Deal valued at approximately $1.8 billion, expected to close Q3 2026 pending regulatory approvals.
• OsaiccoreStrategic or Co-development Partner · 13 April 2026Osaic, formerly known as Advisor Group, is a portfolio company of Reverence Capital acquired in 2019. Osaic completed $2 billion+ recapitalization in April 2026 with Bain Capital joining as new investor alongside Reverence's majority stake. Osaic supports over 10,000 financial professionals and $747 billion in client assets under administration.
• Sequoia Financial GroupminorStrategic or Co-development Partner · 1 October 2024Eide Bailly partnered with Sequoia Financial Group to integrate its wealth management practice, expected to close in Q4 2024. This partnership represents Eide Bailly's expansion into wealth management services as part of its strategic growth initiatives.
• Sunstar Insurance GroupcoreStrategic or Co-development Partner · 1 July 2024Reverence Capital acquired majority stake in Sunstar Insurance Group in July 2024. Sunstar is a Memphis-based retail insurance brokerage operating 58 agencies across nine states with over 930 professionals and placing over $2 billion in premiums annually. Transaction supports Sunstar's ongoing growth through organic and inorganic initiatives.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Stone Point Capital: Stone Point Capital is a private equity firm exclusively focused on financial services investments across banks, insurance, asset management, and fintech. It is the most direct comparable to Reverence given the identical sector specialization and middle-market focus.
• Lightyear Capital: Lightyear Capital is a New York-based private equity firm focused on middle-market financial services companies. Directly comparable to Reverence on sector focus, geography, and ticket size.
• GTCR: GTCR is a Chicago-based private equity firm that co-invested with Reverence in Allspring Global Investments. Compares on financial services focus and middle-market control investing, though GTCR is sector-agnostic.
• TA Associates: TA Associates co-invested with Reverence in Russell Investments and is a growth-focused PE firm with strong financial services exposure. Comparable on deal size, sector overlap, and growth-equity orientation.
• Aquiline Capital Partners: Aquiline Capital Partners is a private equity firm exclusively focused on financial services and technology-enabled business services. Directly comparable to Reverence's middle-market financial services PE strategy.
• FFL Partners: FFL Partners is a San Francisco-based private equity firm focused exclusively on financial services and insurance. Directly comparable sector specialization and middle-market ticket sizes.

Broad incumbents

• Bain Capital: Bain Capital co-invested with Reverence in Osaic and Envestnet, and is a much larger multi-strategy alternatives platform. Comparable as a co-investor and as a financial services-active incumbent, though substantially larger and more diversified than Reverence.
• General Atlantic: General Atlantic is a global growth equity firm where Reverence co-founder Alex Chulack previously worked. It is comparable as a larger incumbent with deep financial services exposure, though it operates across broader sectors.
• New Mountain Capital: New Mountain Capital is a New York-based private equity firm with deep financial services and business services exposure. Comparable on middle-market focus and sector specialization in financial services and insurance.
• Permira: Permira is a global private equity firm with significant financial services exposure, including credit and structured solutions. Comparable as a larger multi-strategy alternatives platform that competes for similar FS deals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/reverence-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries12 records

Funding overview

Funding rounds

Investors

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

M&A7 records

Investments9 records

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

Frequently asked questions about Reverence Capital Partners