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Laxman Pai, Opalesque Asia: The New York-based sector-focused private equity firm Long Ridge Equity Partners has wrapped up its latest fund with $445 million, the bulk of which the firm raised over the pandemic-impaired summer months.
The oversubscribed fund closed at its hard cap of $400 million of Limited Partner commitments plus an additional $45 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," said a press release from the sector-focused PE firm.
Long Ridge targets $15 to $75 million equity investments in both majority and significant minority positions, it said.
The investor base for Fund III is comprised of endowments and foundations, public pensions, funds of funds, insurance companies, wealth managers, and family offices in North America, Asia, and the Middle East.
Jim Brown, Founder & Managing Partner of Long Ridge said: "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."
"This successful fundraise is a testament to the world-class founders and management teams that have partnered with Long Ridge to build their busi...................... To view our full article Click here
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