Ridgemont Equity Partners closed its latest middle market buyout and growth equity fund, Ridgemont Equity Partners III, with $1.65 billion, exceeding its $1.25 billion fundraising target, according to a news release.
Ridgemont officials plan to invest $50 million to $250 million in business and industrial services, energy, health care and technology and telecommunications companies.
The new fund is 66% larger than its 2015 predecessor fund, the $995 million Ridgemont Equity Partners II.
Investors in the new fund include the $65.7 billion Alaska Permanent Fund Corp., Juneau, $51.5 billion Illinois Teachers' Retirement System, Springfield, and $1.25 billion El Paso (Texas) Firemen & Policemen's Pension Fund.