RLH Equity Partners Hits $510M Hard Cap With Fourth Fund

Oct 19 2017 | 10:38pm ET

Private equity company Riordan, Lewis & Haden Equity Partners (RLH) has raised more than $510 million in capital commitments for its fourth buyout fund.

The new fund, named RLH Investors IV, was oversubscribed and closed at $510.6 million, the company said. An increase in the fund’s original hard cap was required to accommodate strong investor interest from domestic and international public and private pension funds, foundations, funds-of-funds and HNW individuals.

The new fund’s size represents a more than 30% increase from the committed capital of RLH’s prior fund, the company added. The company’s most recent seven exits reportedly yielded an average gross multiple on investment of 4.6x.

Based in Los Angeles and founded in 1982, Riordan, Lewis & Haden invests in high growth, profitable enterprises with $30 - $200 million of annual revenue in business services, healthcare, and government services. Inclusive of the new fund, the company manages approximately $1 billion of assets.

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