Long Ridge Quickly Raises Fund IV

Long Ridge Quickly Raises Fund IV

All institutional investors from Long Ridge’s prior fund invested in Fund IV

After three months of fundraising, Long Ridge Equity Partners has held a first and final closing of Long Ridge Equity Partners IV LP (Fund IV) with $730 million of capital commitments.

Fund IV was significantly oversubscribed and closed at its limited partner hard cap of $650 million with an additional $80 million of commitments from the general partner and the firm’s network of executives and advisors.

Fund IV’s limited partners include both new and returning endowments, foundations, public pensions, asset managers, insurance companies, wealth managers, and family offices. In fact, all the institutional investors from Long Ridge’s $445 million third fund, which closed in October 2020, invested in Fund IV.

“We appreciate the strong support and confidence of our new and returning limited partners,” said Jim Brown, the founder and managing partner of Long Ridge. “Despite a volatile market backdrop, our collaborative approach to building market-leading financial and business technology companies has remained highly consistent and successful, which resonated with a world-class group of investors in Fund IV.”

Fund IV will continue Long Ridge’s strategy of investing from $20 million to $100 million of majority and significant minority investments in financial and business technology companies that have at least $5 million of revenue.

“We are incredibly grateful to the founders and executives who have chosen to partner with Long Ridge to grow, professionalize, and enhance their businesses. We look forward to supporting the next generation of business and financial technology innovators with this new pool of capital,” said Kevin Bhatt, a managing partner of Long Ridge. “Fund IV represents a significant milestone in the development of our firm – we appreciate the incredible contributions of our partners, advisors, and team in growing and shaping Long Ridge.”

Monument Group was the advisor and placement agent for Fund IV and Proskauer Rose provided legal services.

Long Ridge Equity Partners was founded in 2007 and is based in New York City.

© 2023 Private Equity Professional | July 13, 2023

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