Private equity firm Ridgemont Equity Partners has closed its first fund with $735 million in commitments, more than its $675 million goal, according to Travis Hain, a partner at Ridgemont. The process took about a year and a half, he says.
Charlotte, N.C.-based Ridgemont’s principals spun off from Bank of America to form the firm in August 2010. The firm focuses on investments of $25 million to $75 million. The fund will invest in the health care, energy, industrial and technology, media and telecommunication industries, says Hain.