Bow River Capital, a Denver-based private alternative asset management firm, is pleased to announce the launch of the Bow River Capital Evergreen Fund (“the Fund”) which is designed to expand private equity access to a broader set of investors.
In a single investment the Fund presents a unique opportunity to access institutional quality private equity investments with broad exposure, low investment minimums and immediate investment exposure.
“We are excited to launch what we believe is a transformative solution for the private equity market,” said Jeremy Held, Managing Director at Bow River. “The Evergreen Fund brings our specialized knowledge and private market experience to a wider investor base, many of whom historically have had difficulty accessing the asset class.”
According to Cambridge Associates, private equity has been one of the best performing asset classes for decades1. However, due to high investment minimums and long lock up periods, widespread access to private equity has been limited, especially among individual investors.
The Fund will accept $50,000 minimum subscriptions on a monthly basis from accredited investors and unlike traditional private equity funds that invest capital over a period of months or years, subscriptions into the Evergreen Fund are immediately invested. Beyond providing a solution for individuals who don’t have access to private equity, the evergreen nature of the Fund provides investors with a better tool to customize their overall exposure to the asset class.
“Our investor base has increasingly been looking for a complementary solution that leverages our private equity expertise in a vehicle with more liquidity and diversification than a typical private equity fund,” said Bow River Capital President Richard Wham. The Fund intends to offer periodic liquidity to its investors on a quarterly basis.
Bow River Capital has developed a successful private equity track record with nearly two decades of experience underwriting and investing in private companies. In addition, Bow River’s investment team has extensive experience managing both evergreen private equity strategies and registered funds. To complement Bow River’s team, the Fund has partnered with Aksia, a leading global alternatives firm with over $160 billion in client-advised assets and institutional-quality sourcing and research capabilities.
The Fund’s concept has resonated with investors. After launching as a private fund in May 2020 the Fund has amassed approximately $90 million in investor commitments and has invested $70 million across 18 private equity and private credit transactions. The private fund converted to a registered fund on December 31, 2020 to expand its universe of eligible investors.
“The significant interest we have seen to date in the Evergreen Fund confirms our belief that the time is right for this type of investment solution” said Wham. “We believe the Fund’s combination of access to private equity investments – along with the shareholder-friendly features of a registered fund – will continue to attract interest from investors and the advisors who serve them.”
An offer can only be made by the prospectus and only in jurisdictions in which such an offer would be lawful. The prospectus contains important information concerning risk factors and other material aspects of the Fund to carefully consider, and must be read carefully before a decision to invest is made.
Any person subscribing for an investment must be able to bear the risks involved and must meet the suitability requirements of the Fund. Investors could lose all or a substantial amount of their investment. No assurance can be given that the Fund’s investment objectives will be achieved. The Fund is speculative and involves a substantial degree of risk. The Fund is a closed-end, non-diversified management investment company that will make periodic repurchase offers for its securities, and is highly illiquid. There is no secondary market for investors’ interests and none is expected to develop. There are certain restrictions on transferring interests. Fees and expenses will offset the Fund’s trading profits. The Fund is subject to conflicts of interest. Other risks include those related to equity securities, fixed income securities, high-yield/high risk bonds, listed private equity, listed infrastructure securities, foreign securities, derivative instruments, leverage, capital calls, investment manager risk, as well as those related to general economic and market conditions, all of which may present significant risks. Please see the prospectus for more information on these and other risks.
About Bow River Capital
Bow River Capital is a private alternative asset management company based in Denver, Colorado, focused on investing in the lower middle market in three asset classes, including private equity, real estate, and software growth equity.
Distributor: Foreside Fund Distributors, LLC