Apogem’s RidgeLake Partners raises over $1.1bn for debut mid-market GP stakes fund

• Capstone Partners, a Mizuho Company, was placement agent for the fund and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to RidgeLake
• RidgeLake launched its GP stakes program to provide investors access to minority equity investments in mid-market GPs with approximately $1 billion to $10 billion of assets under management
• The RidgeLake program consists of both the main fund and a related co-investment vehicle

RidgeLake Partners, a partnership between OA Private Capital and Apogem Capital, a New York Life Investments affiliate, has closed its inaugural mid-market-focused GP stakes fund at over $1.1 billion.

“We are truly grateful for the support and confidence our investors have shown in us, particularly in today’s challenging fundraising environment,” said Todd Milligan, managing director at Apogem Capital and co-head of RidgeLake Partners in a statement. “We believe we are well positioned to take advantage of the attractive GP stakes investment opportunity given our long-tenured private markets history and more than 300 combined GP relationships within the middle market.”

RidgeLake’s investor base includes insurance company, wealth management, foundation, family office, and high-net worth investors.

Capstone Partners, a Mizuho Company, was placement agent for the fund and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel to RidgeLake.

RidgeLake launched its GP stakes program to provide investors access to minority equity investments in middle-market GPs with approximately $1 billion to $10 billion of assets under management. The RidgeLake program consists of both the main fund and a related co-investment vehicle.