Sat, Aug 1, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Private Equity Strategies

Movers and Shakers: Banc of America Spin Outs, Ridgemont Equity Partners Raise First Fund

Monday, May 20, 2013

By: Bailey McCann, Private Equity Strategies

Ridgemont Equity Partners, a Charlotte-based middle market buyout and growth equity investor, founded by former Banc of America Capital Investors executives have closed their inaugural fund with total commitments of $735m. The fund - Ridgemont Equity Partners I, L.P. (“REP I”), closed in March and is oversubscribed. According to the firm, Limited Partners in REP I includes a diversified group of institutional investors from the U.S., Asia and Europe.

In August of 2010, the former Banc of America Capital Investors private equity team spun off from Bank of America to form Ridgemont. The principals of Ridgemont have invested together for two decades, deploying more than $3bn across 115 companies.

Ridgemont focuses on investments of $25 million to $75 million in industries in which it has deep expertise, including basic industries and services, energy, healthcare and telecommunications/media/technology. The firm has a long history of partnering with management teams of closely held private companies and new business platforms as either a majority owner or lead minority investor. REP I is currently comprised of nine portfolio companies.

According to Travis Hain, partner at Ridgemont and member of the firm’s Management Committee, who spoke with Private Equity Strategies, the 9 companies in the first fund are all based in North America. Hain says the firm will “continue to equally target all 4 of our core sectors,” in looking for future investments.

“We target both buyout and growth capital opportunities, but we are more focused on transactions that entail majority equity investments by Ridgemont,” he says.

Even though the fund is oversubscribed, Hain says that they plan to hold off on working on a second fund for now. “Ridgemont is focused on deploying the capital raised for REP I – we have plenty of dry powder to keep us active investors for the foreseeable future.”

Hain serves on the executive committee with two others – Walker Poole and Trey Sheridan. “We are thrilled to have oversubscribed our inaugural fund and believe that it is a testament to the strength of our team, attractive returns and commitment to a proven sector-focused model. The market responded well to Ridgemont’s history and strategy.”

 
This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies


Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  2. Investing - Hedge fund billionaires bet on London as revival gathers pace[more]

    From Bloomberg.com: London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action. Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S.

  3. Other Voices: Same day reporting and the evolving role of fund administrators[more]

    By: Scott Price, Head of Business Development and Client Management for North America, Maitland Ernst & Young’s latest glob

  4. Opalesque Roundup: Hedge fund assets rose to 11th consecutive quarterly record level: hedge fund news, week 31[more]

    In the week ending 24 July, 2015, the total global hedge fund industry assets rose to the 11th consecutive quarterly record level in 2Q15 to $2.97tln; Eurekahedge reported that hedge funds raised $93bn in the first six months of 2015; The SS&C GlobeOp Forward Redemption Indicator for July 201

  5. Cowen Group, Inc. to acquire Conifer Securities[more]

    Cowen Group, Inc. and Conifer Securities, LLC had announced the signing of a definitive agreement under which Cowen will acquire Conifer Securities, the prime services division of Conifer Financial Services LLC. The transaction, the terms of which have not yet been disclosed, was approved by the boa

banner