Ridgemont Equity Partners launched last week as an independent private equity firm staffed by the former Banc of America Capital Investors team. This is part of BoA’s continued pruning of private equity exposure, which has included layoffs, spinoffs and secondary sales.
Charlotte, N.C.-based Ridgemont will continue to manage a $1.5 billion legacy portfolio for BoA, plus also raise its own fund. Typical deals will be mid-market buyout and growth equity investments of between $25 million and $100 million. —Dan Primack