Long Ridge Equity Partners closed its third fund on $445 million, which included a $45 million commitment from the GP and members of the firm’s Advisory Network. LPs in Fund III included endowments and foundations, public pensions, funds-of-funds, insurance companies, wealth managers and family offices.
Long Ridge Equity Partners (“Long Ridge”), a leading sector-focused private equity firm, today announced the final closing of Long Ridge Equity Partners III (“Fund III”). 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.
“We greatly appreciate the support and confidence of our new and existing investors, which allowed us to complete an over-subscribed fundraise on an expedited timeline,” said Jim Brown, Founder & Managing Partner of Long Ridge. “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.”
The investor base for Fund III, which closed on Friday, October 9th, 2020, is comprised of leading endowments and foundations, public pensions, funds of funds, insurance companies, wealth managers, and family offices in North America, Asia, and the Middle East.
“This successful fundraise is a testament to the world-class founders and management teams that have partnered with Long Ridge to build their businesses,” said Kevin Bhatt, Managing Partner of Long Ridge. “With Fund III, Long Ridge is well-positioned to back a new group of industry-leading financial and business technology entrepreneurs.”
Monument Group served as the exclusive advisor and placement agent and Proskauer Rose served as legal advisor for Long Ridge Equity Partners III.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge invests in companies that are transforming the financial and business technology sectors. With $900 million of committed capital, Long Ridge partners with visionary entrepreneurs to build industry leaders. The firm’s collaborative approach, coupled with deep sector expertise, makes Long Ridge the partner of choice for leading management teams. Long Ridge targets $15 to $75 million equity investments in both majority and significant minority positions. Representative investments include Broadway Technology, Browz, Carson Group, and Portware. For more information on the firm and its investments, please visit www.long-ridge.com.
About Monument Group
Founded in 1994, Monument Group is one of the foremost, independent full-service advisors and fundraising partners in alternative investments. Monument Group has assisted clients in raising over $114 billion. For more information on Monument Group’s primary and secondary capabilities, visit www.monumentgroup.com.