The Riverside Company has completed fundraising for its latest buyout fund, Riverside Asia-Pacific Fund II (RAF II) at USD235 million, a 57 per cent increase over its USD150 million PPM target.
RAF II executes control buyouts of companies with less than USD15 million in EBITDA in the developed economies of the Asia-Pacific region.
RAF II follows the strategy of its predecessor fund, targeting healthy companies that can benefit from the firm’s global footprint and strong operating resources to drive growth and complete strategic add-on investments.
“RAF I was a trendsetting fund, and we’ve enjoyed a lot of success since beginning to invest in the region in 2007,” says Riverside co-chief executive Béla Szigethy. “We’re excited about building on that success with RAF II.”
“Buyouts in the smaller end of the middle market are still a relatively new business in the Asia-Pacific region,” says Riverside co-CEO Stewart Kohl. “Because of that, there are some remarkable opportunities to grow outstanding companies that meet our criteria.”
The RAF team is led by fund manager Stuart Baxter, who has been with Riverside since 1997 and has led RAF since its inception.
