NEW YORK–(BUSINESS WIRE)–Long Ridge Equity Partners, a leading private equity firm focused on growth companies in the financial and business technology sectors, today announced the first and final closing of Long Ridge Equity Partners IV at $730 million of total commitments.
After three months of fundraising, the significantly oversubscribed fund held a single close at its hard cap of $650 million of Limited Partner commitments plus an additional $80 million of commitments from the General Partner and the firm’s network of executives and advisors.
New and returning investors in Fund IV include leading endowments, foundations, public pensions, asset managers, insurance companies, wealth managers, and family offices. 100% of the institutional investors in Long Ridge Equity Partners III returned as investors in Fund IV.
“We appreciate the strong support and confidence of our new and returning limited partners,” said Jim Brown, Founder & Managing Partner of Long Ridge. “Despite a volatile market backdrop, our collaborative approach to building market-leading financial and business technology companies has remained highly consistent and successful, which resonated with a world-class group of investors in Fund IV.”
Consistent with its predecessor funds, Fund IV will target majority and significant minority investments in high-growth financial and business technology firms led by exceptional management teams.
“We are incredibly grateful to the founders and executives who have chosen to partner with Long Ridge to grow, professionalize, and enhance their businesses. We look forward to supporting the next generation of business and financial technology innovators with this new pool of capital,” said Kevin Bhatt, Managing Partner of Long Ridge. “Fund IV represents a significant milestone in the development of our firm – we appreciate the incredible contributions of our partners, advisors, and team in growing and shaping Long Ridge.”
Monument Group served as the exclusive global advisor and placement agent and Proskauer Rose served as legal advisor for Long Ridge Equity Partners IV.
About Long Ridge Equity Partners
Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial and business technology sectors. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth businesses. Since its founding, Long Ridge has sponsored some of the most successful growth companies in the financial and business technology sectors, providing leading management teams with partnership, strategic resources, and capital to drive profitable expansion. Long Ridge manages over $1.75 billion of committed capital. For more information on Long Ridge Equity Partners, please visit www.long-ridge.com.
