Ridgemont Equity Partners has held a final closing of Ridgemont Equity Partners I, L.P. (“REP I”), with total commitments of $735 million.
TPG Capital (Forth Worth, TX) served as placement agent for REP I and the fundraising was completed at the end of March with excess demand. Limited partners in REP I include institutional investors from the U.S., Asia and Europe.
Ridgemont has already acquired nine portfolio companies for REP I including the recently closed acquisition of Simpleview, a provider of software and digital marketing services to destination marketing organizations. Simpleview is headquartered in Tucson, AZ (www.simpleviewinc.com).
“We are thrilled with all that Ridgemont has accomplished over the last two and a half years. The success of our fundraising is attributed to the strength of our team, attractive investment returns and commitment to a proven, sector-focused strategy. The firm has generated tremendous momentum through our recent investment activity and fund closing, and we look forward to a long and prosperous relationship with our new limited partners,” said Travis Hain, Walker Poole and Trey Sheridan, in a released statement. Messrs. Hain, Poole and Sheridan serve on the firm’s Executive Committee.
Ridgemont Equity Partners focuses on middle market buyout and growth equity investments of $25 million to $75 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications/media/technology. In August of 2010, the former Banc of America Capital Investors private equity team spun off from Bank of America to form Ridgemont. The firm is headquartered in Charlotte, NC (www.ridgemontep.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-12-13