Healthcare-focused private equity firm Revelstoke Capital Partners LLC completed fundraising for Revelstoke Capital Partners Fund II LP and Revelstoke Single Asset Fund I LP.

The oversubscribed funds have a committed capital of $1.37 billion.

Revelstoke Capital Partners Fund II gathered commitments of $714 million, exceeding its target of $500 million and reaching its hard cap.

Revelstoke Single Asset Fund I collected $660 million in commitments. Concurrently with the closing of Revelstoke Single Asset Fund I, the funds acquired Upstream Rehabilitation Inc., a provider of outpatient physical therapy services in the U.S.

Revelstoke's investment team will continue to be led by general partners Simon Bachleda, Russell Cassella, Eric Shuey and Andrew Welch.

Houlihan Lokey Capital Inc. acted as placement agent for Revelstoke Capital Partners Fund II, while PJT Park Hill served as financial adviser to Revelstoke Single Asset Fund I. Simpson Thacher & Bartlett LLP provided legal advice to the funds. Winston & Strawn LLP provided legal advice, and Harris Williams served as financial adviser to Upstream.