Vision Ridge Partners has closed its third sustainable asset fund at a hard cap of $1.25 billion, beating its $1 billion. The fund’s limited partners include consultants, endowments, foundations, family offices and public pensions. Vision Ridge is targeting investments in industries “undergoing a significant shift to sustainability including energy, transportation and agriculture.”
Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, has closed its $1.25 billion Sustainable Asset Fund III (“Fund III”). The Fund held its final close just four-and-a-half months after commencing fundraising. Fund III initially targeted $1bn of commitments and drew interest beyond the $1.25bn hard cap.
“The speed, size and high-quality LP base of our fundraise speaks to increasing investor interest in aligning their portfolios with the transition to a sustainable real economy,” said Reuben Munger, Vision Ridge’s managing partner. “Sustainable investing is no longer a niche strategy that investors want to add to their portfolio because of its ethical benefits or as a diversification strategy. The shift around the globe to sustainability is inevitable and we believe the economics of the underlying investments work. These investments can provide the types of returns investors previously sought through more traditional private market asset classes.”
Fund III had significant and upsized commitments from 80% of the participants in Vision Ridge’s previous funds. The Fund’s institutional investor base expanded with notable new LPs including leading consultants, endowments, foundations, family offices and public pensions.
“Our investors’ endorsement of the Vision Ridge team and strategy validates our disciplined, consistent approach to monetizing unique, sustainable real assets,” Munger added.
Fund III aims to make 8-12 investments with a core position size between $75-175 million. As with its previous funds, Vision Ridge is targeting investments in industries undergoing a significant shift to sustainability including energy, transportation and agriculture.
About Vision Ridge Partners
Vision Ridge Partners aims to deliver superior financial returns and positive environmental impact through investments in sustainable real assets. Founded by Reuben Munger and joined by partners Justin Goerke and George Polk, Vision Ridge manages approximately $2.45 billion, as of March 31, 2021, across its three funds and associated co-investments. Vision Ridge has offices in Colorado and New York. For more information visit https://vision-ridge.com