Riverside Closes €315M European Fund

Jul 12 2007 | 2:01pm ET

The Riverside Company has closed its third European fund at €315 million (US$433 million).

Institutional investors and investment advisors that invested in the fund include Massachusetts Mutual Life Insurance Company, Alfred I. duPont Testamentary Trust and Altius Associates.

Riverside Europe Fund III focuses on the smaller end of the middle market spectrum on companies with enterprise values between €15 million and €120 million. "After 18 years of hard work, we are now able to say that Riverside holds the distinction of being the only pan-European buyout firm focused exclusively on the smaller end of the middle market,” said Béla Szigethy, Riverside’s co-CEO.

“Although much larger than our last European fund, the size of REF III fits perfectly with our current pace of investment in Europe. We have been very active in that market in the recent past, completing six European acquisitions and two exits since January 2006. We expect that pace to accelerate as we continue to open new offices, most recently in Brussels and Madrid."

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