Ridgemont Closes Above Target

Ridgemont Equity Partners has held an oversubscribed final closing of Ridgemont Equity Partners III LP (REP III) with $1.65 billion in commitments. The new fund’s original target had been $1.25 billion.

Investors in REP III include returning investors combined with significant interest from new investors. The general partner also made a substantial commitment to the fund.

“Our limited partners have been pleased with our ability to drive attractive returns by being the partner of choice for management teams building leading and distinctive companies in their respective industries. The confidence and continued support from our investor base are gratifying as we look forward to the opportunities and challenges of today’s market,” said Walker Poole, a partner at Ridgemont.

Ridgemont focuses on middle market buyout and growth equity investments of $50 million to $250 million. The firm invests in the following sectors: business and industrial services, energy, healthcare, and technology and telecommunications. With the closing of REP III, Ridgemont has now raised more than $4 billion across five funds since its founding in 2010. The firm is headquartered in Charlotte with an additional office in Dallas (www.ridgemontep.com).

“We are excited to announce the closing of REP III and the next chapter of our sector-focused investment strategy,” said Travis Hain, a partner at Ridgemont.

Credit Suisse Securities (USA) was the placement agent for this fundraise and Proskauer Rose provided legal services.

Ridgemont’s earlier fund, Ridgemont Equity Partners II LP, closed in November 2015 with $995 million of capital.

© 2018 Private Equity Professional | December 18, 2018

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