VeraNorth Redefines Healthcare Private Equity With RN Express Acquisition
HOUSTON--(BUSINESS WIRE)--VeraNorth Capital Management, LLC ('VeraNorth') today announced the official launch of VeraNorth Healthcare Private Equity Fund, L.P. (the 'Fund'), an evergreen, NAV-based liquidity fund employing a hybrid strategy of growth equity and control investing. The Fund targets U.S. lower middle market healthcare services providers and aims to capitalize on powerful demographic tailwinds—including rising demand for senior care and persistent staffing shortages—to drive scalable, long-term value.
VeraNorth launches an evergreen, investor-aligned NAV-based liquidity fund and acquires RN Express, a leading high-growth clinical staffing firm, to anchor its long-term healthcare private equity strategy in the U.S.
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Anchor Acquisition: RN Express
Coinciding with the launch, VeraNorth has acquired RN Express Registry, LLC ('RN Express'), a leading New York-based clinical staffing company. Founded in 2009, RN Express is a top provider of nursing personnel in Manhattan, with recurring revenue and significant growth potential. The Fund will support RN Express' organic growth while pursuing a roll-up strategy across sectors such as urgent care centers, skilled nursing facilities, pharmacies, and hospices.
Leadership Perspective
'RN Express is the ideal partner to anchor our healthcare-focused strategy—delivering critical staffing solutions and scalable growth,' said Troy Reed, President & Chief Executive Officer of VeraNorth Capital. 'Our evergreen structure empowers us to build enduring partnerships while delivering superior risk-adjusted returns and consistent liquidity for our Limited Partners.'
Fund Structure Highlights
The Fund's evergreen structure offers greater flexibility and alignment than traditional private equity models, featuring:
An open-ended vehicle with quarterly NAV-based redemptions
A one-year hard lock-up followed by a six-year soft lock-up
A 20% annual redemption gate per Limited Partner
Performance-based carry: 20% of net NAV appreciation, subject to each investor's high-water mark—with no preferred return or catch-up
In contrast to conventional 10-year funds, VeraNorth's structure enables sustainable growth through long-term partnerships, operational enhancements, and strategic add-on acquisitions—delivering a more investor-centric alternative to legacy PE models.
About VeraNorth Capital Management, LLC
VeraNorth Capital Management, LLC is a Houston-based private equity firm specializing in control-oriented healthcare investments. The firm partners with founder-led businesses to scale essential healthcare services while generating long-term value for investors.
About RN Express Registry, LLC
Founded in 2009, RN Express Registry, LLC is a leading clinical staffing provider, serving healthcare facilities across Manhattan with reliable, high-quality nursing personnel to meet sustained clinical demand.
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