Sat, May 26, 2018
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 - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  2. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  3. Third Point to raise $400 million for SPAC, Farley to run it[more]

    From Reuters.com: Daniel Loeb's hedge fund Third Point LLC plans to raise $400 million for a "blank check" company which will be run by outgoing stock market operator NYSE Group President Thomas Farley, according to a regulatory filing made on Tuesday. The new company, referred to on Wall Stre

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven