E288: Inside a PE Fund Ranked #1 in IRR, DPI, and TVPI
How do you raise $875M in one of the hardest fundraising markets in decades and still outperform on DPI, IRR, and culture? In this episode, I sit down with Jesse D. Serventi and Atif Gilani, Founding Partners of Renovus Capital Partners, to unpack what actually compounds in private equity over 15+ years. We break down why staying in the lower end of the lower middle market creates structural advantage, how talent density became their real edge, and why portfolio construction—not deal hype—is the hidden driver of net returns. Jesse and Atif also share how Renovus evolved from three founders doing everything into a scaled firm built to last decades, not cycles.
Highlights:
- How Renovus raised $875M while many peers struggled
- Why sub-$10M EBITDA businesses create more “at bats”
- Purchase price discipline and playing the game on “easy mode”
- Talent density as the true compounding advantage
- Boomerang CEOs and the Renovus ecosystem effect
- Evolving from deal makers to firm builders
- Recycling capital to invest ~120% of LP commitments
- Why holding great businesses longer beats forced exits
- “Invest and investigate” as a portfolio construction edge
- Choosing LPs as long-term partners, not one-off capital
Guest Bio:
Jesse D. Serventi and Atif Gilani are Founding Partners of Renovus Capital Partners, a private equity firm focused on founder-owned businesses in the lower middle market. Prior to Renovus, Jesse was an investment professional at Leeds Equity Partners and began his career at Citigroup in investment banking and private equity. Atif was a Managing Director at Leeds Equity Partners and started his career in M&A at Merrill Lynch. Together, they have spent more than 15 years building Renovus into a scaled, culture-driven firm known for strong DPI, disciplined portfolio construction, and long-term alignment with founders, executives, and LPs.
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Disclaimer:
This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Capital. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.
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Transcript
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