The Riverside Co., a private equity firm based in New York, has closed its fourth fund with $750 million, which was raised in seven months.
The firm’s previous fund, Riverside Capital Appreciation Fund 2000, raised slightly more than $410 million.
The new vehicle, the Riverside Capital Appreciation Fund 2003, will focus on platform companies with enterprise values of between $10 million to $100 million, and add-ons of up to $100 million.
The firm plans to buy between 10 and 15 companies a year. Riverside has nearly $1.3 billion in capital under management.
Returning limited partners include the State of Oregon, Credit Suisse First Boston, TIAA-CREF, Massachusetts Mutual Life Insurance Co. and Liberty Mutual Group.
New LPs include NIB Capital, Stanford University, Allianz Private Equity Partners, Northwestern Mutual, Wilshire Private Markets Group and Alfred I. duPont Testamentary Trust.