Long Ridge Equity Partners, a growth capital investor that specializes in the financial industry, has held a final close of its second fund, Long Ridge Equity Partners II, LP, with $227 million of capital commitments.
Investors in the new fund include a significant number of current and retired financial services executives as well as institutional investors such as university endowments, pension funds, advisors, and family offices.
“We welcome our new investors and thank our returning investors for their continued partnership,” said Jim Brown, Managing Partner. “We were extremely pleased with the reception we received for Fund II and we completed an oversubscribed fund raise in less than three months.”
Fund II will continue Long Ridge’s strategy of investing from $10 million to $50 million of growth capital in companies with $5 million to $50 million of revenue that are active in financial services. Specific sectors of interest include financial technology, business services, wealth management, and specialty finance.
“Our thesis-driven approach to deal sourcing has yielded an exceptional group of current portfolio companies,” said Kevin Bhatt, Partner. “Our team looks forward to partnering with a new group of entrepreneurial management teams to build category-defining companies.”
Long Ridge Equity Partners was founded in 2007 and is based in New York (www.longridgecap.com).
Boston-based Harken Capital Securities (www.harkencapital.com) was the placement agent for Long Ridge and Proskauer Rose (www.proskauer.com) provided legal services.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 3-11-16
