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Laxman Pai, Opalesque Asia:

Ridgemont Equity Partners has closed its fifth flagship buyout and growth equity fund, raising $3.975 billion in capital commitments - well above its $2.75 billion target.

The fund, Ridgemont Equity Partners V (REP V), reached its hard cap and was significantly oversubscribed, the North American alternative manager said in a press release.

With the close, Ridgemont now manages more than $11 billion of capital, marking its largest fundraising to date. The investor base for REP V is also the firm's broadest yet, with more than 100 institutions globally, including pension funds, sovereign wealth funds, insurers, endowments, foundations, and family offices. The firm's principals committed nearly $250 million of their own capital, continuing a practice of significant general partner alignment.

Founded in 2010 after spinning out from Bank of America, Charlotte-headquartered Ridgemont focuses on middle-market companies across business services, healthcare, and industrials, with an emphasis on tech-enabled services and distribution. Since its inception, the firm has invested in 70 platform companies and completed more than 180 add-on acquisitions.

Managing partners Jack Purcell and John Shimp said the close of REP V underscored confidence in Ridgemont's investment strategy despite a difficult fundraising backdrop. "The success of this latest capital raise amidst a challenging fundraising environment further demonstrates the strength of ......................

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