Riverside Raises $235M For Second Buyout Fund

Global private equity firm the Riverside Company has completed fundraising for its latest buyout fund, Riverside Asia-Pacific Fund II, at US$235 million, according to a company announcement.

The final tally is 57% over the fund’s US$150 million initial target. The fund will invest in buyouts deals of companies with less than US$15 million in EBITDA (earnings before interest, taxes, depreciation, and amortization) in the developed economies of the Asia-Pacific region.

Limited partners in the fund include Massachusetts Mutual Life Insurance Company, Macquarie Investment Management, Commonwealth Superannuation Corporation, Development Bank of Japan and Munich Private Equity Partners.

"Buyouts in the smaller end of the middle market are still a relatively new business in the Asia-Pacific region," says Riverside Co-CEO Stewart Kohl. "Because of that, there are some remarkable opportunities to grow outstanding companies that meet our criteria."

Founded in 1988, Riverside manages over US$3.5 billion, and has invested in more than 340 transactions.