Bow River Capital Evergreen Fund Achieves 5-Year Track Record, Continues to Expand Team

DENVER, June 17, 2025 -- Bow River Capital, a Denver-based alternative asset manager, is pleased to announce that its Evergreen Fund ("the Fund") recently marked its 5-year anniversary, reaching $850m in assets as of June 1, 2025.

The Fund was launched in May 2020 and provides access to a broad range of private market investments across vintage year, geography, and size with a focus on middle market private equity. Since inception, the Fund has executed more than 120 transactions, providing exposure to hundreds of private companies. Designed to be a resilient portfolio, the Fund has navigated challenging investment markets in its first five years, maintaining consistent returns with minimal drawdowns.

For the period since the inception ending May 31, 2025, the Fund has generated an annualized net return of 16.88% with a maximum drawdown of 1.1%. For the one-year period ending May 31, 2025, the Fund returned 13.47%. Past performance is no guarantee of future results.

"Our goal with the Evergreen Fund is to provide investors with a private equity portfolio focused on the middle market, an area that Bow River has invested in for more than two decades. The last five years have highlighted the importance of finding investments with differentiated sources of return, particularly in periods of heightened volatility. We are pleased to have successfully navigated a difficult environment for our investors," said Jeremy Held, Founder and President of the Evergreen Fund.

The Fund's combination of immediate investment exposure, broad diversification, and low investment minimums ($50,000 for accredited investors) has attracted interest from a wide range of investors and investment advisors. 

"We have seen significant interest from investors who are seeking to either diversify portfolios away from stocks and bonds or add middle market private equity exposure to existing investments from large-cap private equity managers," said Mr. Held. 

As of June 1, 2025, the Fund has raised a total of $850m in assets, predominantly from family offices, wealth management firms, and individual investors.

As part of the Fund's growth, Bow River has continued to expand its investment team. Teague Towner joined the Evergreen team from the San Manuel Band of Mission Indians' Sovereign Wealth Fund in 2024, and Amanda Krakauer joined from Blackstone in March 2025. They both bring sourcing, underwriting, and monitoring experience to the Evergreen Fund.  In addition to Mr. Towner and Ms. Krakauer, Mr. Held expects to add additional investment resources in 2025. 

"Teague and Amanda each bring a unique skill set, and we couldn't be happier to have them join our growing team," said Mr. Held. 

About Bow River Capital

Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in five asset classes: defense technology, private credit, private equity, real estate, and software growth equity. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes and across the capital structure.  In addition, Bow River Capital maintains joint venture partnerships with ONE Bow River Advisers, LLC and Thornburg Bow River Advisers, LLC. 

For more information on the Bow River Evergreen Fund, please visit www.bowriverevergreen.com