Ridgemont Equity Partners, a middle-market buyout and growth equity investor, has closed Ridgemont Equity Partners III with USD1.65 billion in commitments.
Fundraising for REP III launched with a target of USD1.25 billion and closed with excess demand, driven by strong support from existing limited partners combined with significant interest from new investors. The general partner also made a substantial commitment to the fund.
The formation of REP III allows Ridgemont to target investments ranging from USD50 million up to USD250 million and continue its focus on opportunities in four primary sectors: business and industrial services, energy, healthcare, and technology and telecommunications. Ridgemont has raised more than USD4 billion across five funds since its founding in 2010.
“We are excited to announce the closing of REP III and the next chapter of our sector-focused investment strategy,” says Travis Hain, Partner at Ridgemont.
“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,” commented Walker Poole, Partner at Ridgemont.
Credit Suisse Securities (USA) LLC served as the exclusive placement agent and Proskauer Rose as fund formation counsel for REP III.
