Wed, Jul 26, 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 - Hedge fund CQS favors structured credit, Direct lending funds' fading all-weather appeal, Funds hunt for cracks in most-prized US shopping malls[more]

    Hedge fund CQS favors structured credit From BArrons.com: A hedge fund manager that can invest across the investment landscape says in his latest semi annual report this week that he's finding opportunities in structured credit -- particularly the shorter term, floating rate kind. Exampl

  2. Launches - Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle, Jersey players institutionalize first regulated crypto-currency hedge fund[more]

    Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle From Coindesk.com: The operators of a regulated, Jersey-based bitcoin hedge fund have officially closed a new $5 million fund aimed at investing in cryptocurrency tokens and initial coin offerings (ICOs). Backed by fun

  3. SWFs - China Wealth fund backs TPG lender as part of U.S. property push[more]

    From Bloomberg.com: China Investment Corp., the sovereign wealth fund that controls $814 billion in assets, is betting on U.S. real estate by investing in a commercial real estate lender formed by the money management firm TPG. In conjunction with last week's initial public offering of TPG RE Financ

  4. Seward & Kissel launches new compliance service[more]

    Bailey McCann, Opalesque New York: The law firm that formed the first hedge fund - Seward & Kissel - has launched a new compliance service for asset managers. Seward & Kissel Regulatory Compliance, or SKRC, offers full-scale regulatory compliance consulting solutions provided by the firm's attor

  5. Opalesque Exclusive: Boothbay banks on nimble, niche emerging managers[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: One New York-based hedge fund is successfully riding the trend towards emerging manager managed accounts by focusing on those managers who take the road less tr