Long Ridge equity partners closes oversubscribed Fund III at USD445m hard cap
Long Ridge Equity Partners (Long Ridge), a sector-focused private equity firm, has held the final closing of Long Ridge Equity Partners III.
The oversubscribed fund closed at its hard cap of USD400 million of Limited Partner commitments plus an additional USD45 million of commitments from the General Partner and members of the firm’s Industry Advisor Network. Consistent with its predecessor funds, Fund III will target majority and significant minority investments in high-growth financial and business technology companies led by exceptional management teams.
“We greatly appreciate the support and confidence of our new and existing investors, which allowed us to complete an over-subscribed fundraise on an expedited timeline,” says Jim Brown, Founder & Managing Partner of Long Ridge. “The resiliency of our existing portfolio companies through the COVID downturn, coupled with the consistency of our investment strategy and approach to value creation, ultimately resonated with a strong base of world-class investors.”
The investor base for Fund III, which closed on Friday, 9 October, 2020, is comprised of leading endowments and foundations, public pensions, funds of funds, insurance companies, wealth managers, and family offices in North America, Asia, and the Middle East.
“This successful fundraise is a testament to the world-class founders and management teams that have partnered with Long Ridge to build their businesses,” says Kevin Bhatt, Managing Partner of Long Ridge. “With Fund III, Long Ridge is well-positioned to back a new group of industry-leading financial and business technology entrepreneurs.”
Monument Group served as the exclusive advisor and placement agent and Proskauer Rose served as legal advisor for Long Ridge Equity Partners III.