Thu, Dec 3, 2020
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

RidgeLake Partners acquires minority stake in Newbury Partners

Friday, October 30, 2020
Opalesque Industry Update - Newbury Partners, a leading secondaries investment manager, today announced that RidgeLake Partners has acquired a passive, minority interest in the firm. Specific terms of the transaction were not disclosed.

The minority investment from RidgeLake, a strategic partnership between PA Capital and Ottawa Avenue Private Capital that focuses on acquiring minority equity stakes in middle market private equity firms, will support the future growth of Newbury and strengthen the Firm's alignment with its global investor base. There will be no change in Newbury's investment processes nor day-to-day management of the Firm.

"We are thrilled to have RidgeLake as a strategic long-term partner to support us through this next phase of Newbury's growth," said Richard Lichter, Managing Partner of Newbury. "RidgeLake brings deep expertise investing across the private capital marketplace as well as first-hand experience in the middle market that makes them an ideal partner as we look to build upon our longstanding track record of growing our business for the benefit of our investors."

"The breadth and depth of Newbury's expertise in the secondaries market combined with their hands-on approach to transactions across the private equity market has allowed the firm to earn the trust of its diverse, global investor base," said Michael Lunt, Co-Head of RidgeLake Partners. "We believe Newbury is well-positioned to capitalize on the robust volume of secondary investment opportunities emerging from the maturation of the private capital industry, and we look forward to supporting the Newbury team in the years to come," added Todd Milligan, Co-Head of RidgeLake Partners.

Berkshire Global Advisors acted as financial advisor to Newbury. Verrill Dana LLP and Proskauer Rose LLP served as legal counsel to Newbury, and Gibson, Dunn & Crutcher LLP served as legal counsel to RidgeLake Partners.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. SPACs: Seth Klarman bets big on Bill Ackman, other SPACs, CRE firms join the SPAC boom[more]

    Seth Klarman bets big on Bill Ackman, other SPACs From MSN: Hedge fund manager Seth Klarman revealed several investments in SPACs during the third quarter, including a big bet on the largest SPAC from Bill Ackman. A 13F filing from the third quarter reveals Klarman's Baupost Fund to

  2. Renaissance, Two Sigma see losses as quant giants navigate chaos, Hedge fund run by BofA veterans trounces 99% of Brazil peers, Amid a tough year, CQS makes changes - and sees a rebound[more]

    Renaissance, Two Sigma see losses as quant giants navigate chaos From Bloomberg: Two of the hedge fund industry's quantitative powerhouses are getting tripped up this year as wild markets throw off their investing models. Renaissance Technologies, which manages the world's biggest q

  3. Investing: Hedge funds bet on tech ahead of unpredictable fourth quarter, The Tiger crowd's fresh buys, raises Uber stake, David Einhorn adds Twitter and Intel shares, keeps big bets on inflation, Palantir stock rockets to record highs as hedge funds disclose stakes, Trian dumped GE stock, but Druckenmiller stood pat in Q3 as SEC probe heated up[more]

    Hedge funds bet on tech ahead of unpredictable fourth quarter From Bloomberg: Hedge funds mostly stuck with the safety of technology stocks during the third quarter as they headed toward the uncertainty of this month's U.S. election. If they're still holding on to those wagers, it will

  4. SPACs: As Ackman hunts blockbuster deal, he counts on big backers[more]

    From Reuters: Hedge fund veteran William Ackman has the support of some of Wall Street's top investors as he tries to pull off the biggest-ever deal carried out by a blank-check acquisition company, according to regulatory filings published in the last few days. Among the heavy hitters rounded u

  5. Bill Ackman is bullish on stocks for 2021, but has a hedge position for a 'tragic' end to 2020[more]

    From CNBC: Billionaire hedge fund manager Bill Ackman, who made big money betting against the markets earlier this year, said he's optimistic about a recovery in 2021, but investors will need to get through a "tragic" year-end first. "We think the next couple of months unfortunately are going to