Sat, May 27, 2017
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. Investing - Tudor Jones backs AI hedge funds, Massive hedge fund trades highlight insider buying: GE, Pentair, Tempur Sealy, Apollo Global and more, Hedge funds big wigs are buying consumer and selling tech, here's the stocks[more]

    Tudor Jones backs AI hedge funds From FT.com: Hedge fund magnate Paul Tudor Jones has invested in a brace of artificial-intelligence powered "quantitative" hedge funds, underscoring the increasing acceptance that the industry will need to turn more to technology and away from traditional

  2. Soon hedge fund investors won't bet on a man, they will bet on a machine[more]

    From Forexlive.com: The Wall Street Journal is in the midst of a 17-part series that looks at the rise of quant funds. The AUM and money invested in quant funds still trails traditional asset managers but the gap is closing. What's truly amazing is volume. Quant funds make up 27% of trading vo

  3. Investing - China's HNA wants to invest in Value Partners, Risk parity investors reap rewards from rebalancing act, SoftBank's $100 billion tech fund rankles VCs as valuations soar[more]

    China's HNA wants to invest in Value Partners From Reuters.com: HNA Group has alighted on a logical, if pricey, target in Hong Kong. The deal-hungry Chinese travel conglomerate known for overpaying wants to invest in Value Partners, one of Asia's few sizeable independent asset managers,

  4. Opalesque Exclusive: Investors warm to ESG, but seek standardization[more]

    Bailey McCann, Opalesque New York: Asset managers and asset owners plan to double their investment in Environmental, Social and Governance (ESG) driven strategies over the next two years, according to a survey from BNP Paribas Securities Services. The report, "Great Expectations: ESG - what's nex

  5. Opalesque Roundtable: France's hidden strengths in AI and machine learning[more]

    Komfie Manalo, Opalesque Asia: All nations offer their strengths and weaknesses, but one that is undisputed is the quality of the French scientists, claimed Guillaume Vidal, co-founder of French technology startup Walnut Algorithms at the