Richard Levernier

Richard Levernier is a Principal at Balmoral Funds, a Los Angeles–based private equity firm he joined in 2019. In that role he is responsible for sourcing and evaluating new investment opportunities, leading due diligence, and executing transactions. He also takes active post-close governance roles, sitting on the boards of Balmoral portfolio companies such as R.H. Sheppard Co. and Rangen (the former Wilbur-Ellis Nutrition business).

Before Balmoral, Levernier built a conventional buy-side path through banking and private equity. He began as an Investment Banking Analyst at William Blair & Company in Chicago (roughly 2013–2015), then moved into private equity as an Associate at Harren Equity Partners in Charlottesville, Virginia (roughly 2015–2017). He subsequently earned an MBA before joining Balmoral.

He holds a Bachelor of Business Administration in Finance and Economics from the University of Notre Dame and an MBA from the University of California, Berkeley (Haas School of Business).

Balmoral Funds itself was founded in 2005 and manages on the order of $1.3 billion in assets. The firm invests out of a series of Special Situations Funds (most recently Fund IV) and pursues complexity-driven deals — corporate carve-outs, distressed businesses, recapitalizations, and management buyouts — deliberately avoiding auction-driven middle-market processes. Its value-creation model centers on operational improvement, restructuring, and tight alignment with management teams.

• Special situations, not growth equity or seed: Balmoral targets middle-market companies "in transition" — corporate divestitures, turnarounds, restructurings, distressed businesses, and management buyouts — where operational or financial complexity keeps out auction competition.
• Control-oriented: The firm makes control and shared-control investments and generally requires board representation; Levernier personally serves as a director on portfolio companies.
• Check size / company size: Equity investments of roughly $10M–$100M+ per deal into companies that have historically generated ~$30M–$300M+ of revenue.
• Sector-agnostic with an industrial tilt: All industries considered, but the recent deal record concentrates in industrials, precision/advanced manufacturing, auto & commercial-vehicle components, specialty chemicals, food & ag, and IoT.
• Value-creation stance: The firm "seeks complexity as a source of value," betting that patient capital plus experienced operators and aligned management can transform challenged businesses into durable enterprises.