Long Ridge Equity Partners, a growth capital firm based in New York, closed its second fund with $227 million in commitments. Like its predecessor, Long Ridge Equity Partners II LP will target investments in growing financial services companies that have between $5 million to $50 million of revenue.
The firm sought to raise $100 million for its debut fund, Buyouts reported in 2012, although a final fund size was not disclosed.
Long Ridge’s legal advisor was Proskauer Rose LLP. Placement services were provided by Harken Capital Securities LLC.
PRESS RELEASE
NEW YORK, NY (March 10, 2016) – Long Ridge Equity Partners, a growth capital firm focused on the financial services sector, today announced the closing of its second fund, Long Ridge Equity Partners II, LP (“LREP II”) with $227 million in commitments.
LREP II will continue Long Ridge’s core investment strategy of providing growth capital and strategic resources to market-leading financial services companies. Sectors of interest include financial technology, business services, wealth management, and specialty finance. The firm’s target companies typically have $5 million to $50 million of revenue and have generated significant growth under the leadership of exceptional management teams.
Investors in LREP II include university endowments, pension funds, advisors, family offices, and a significant number of current and retired financial services executives.
“We welcome our new investors and thank our returning investors for their continued partnership,” said Jim Brown, Managing Partner. “We were extremely pleased with the reception of LREP II, completing an oversubscribed fund raise in less than three months.”
“Our thesis-driven approach to deal sourcing has yielded an exceptional group of current portfolio companies,” said Kevin Bhatt, Partner. “Our team looks forward to partnering with a new group of entrepreneurial management teams to build category-defining companies.”
Long Ridge’s legal advisor was Proskauer Rose LLP. Placement services were provided by Harken Capital Securities LLC.
About Long Ridge
Long Ridge Equity Partners is a New York-based growth capital firm focused on the financial services sector. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth companies.
Additional information is available at www.longridgecap.com
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