Riverside Partners has held the final closing of Riverside Fund V, L.P. with $561 million of capital commitments. The fund was oversubscribed and achieved its hard cap in six months. Atlantic-Pacific Capital served as Riverside’s exclusive global placement agent and advisor.
“Just as it did for our Fund IV raise in 2009, the Atlantic-Pacific team drove an organized and targeted process that allowed us to be in and out of the market in a short timeframe,” said David Belluck, General Partner of Riverside. “This minimized distraction from our existing portfolio companies and from pursuing new investment opportunities. We very much value Atlantic-Pacific’s assistance in the process of fundraising.”
Fund V will continue Riverside’s focus on investments in established and growing middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDA’s from $5 million to $25 million. Riverside Partners is based in Boston, MA (www.riversidepartners.com).
“In an environment where approximately 1,900 funds are raising capital, investors appreciated Riverside’s consistent strategy, proven performance, and highly impressive team,” said Jennifer Tedesko, Partner at Atlantic-Pacific Capital. “We wish Riverside and its limited partners mutually fruitful success in the coming years.”
Founded in 1995, Atlantic-Pacific Capital has raised over $50 billion for alternative asset managers seeking private capital. Typical projects include private equity, real estate, and infrastructure fund placements, as well as private placement financings in support of acquisitions, buyouts, and growth capital transactions. The firm has relationship managers and advisors in New York, Greenwich, Chicago, San Francisco, London, and Hong Kong (www.apcap.com).