Capital placement agent and fund advisory firm Eaton Partners, a wholly owned subsidiary of Stifel Financial Corp, has acted as exclusive placement agent for Ridgewood Infrastructure.The Ridgewood Water & Strategic Infrastructure Fund reached its hard cap of USD600 million in capital commitments, exceeding its initial target of USD500 million. The heavily oversubscribed fund received strong support from both leading North American and European institutional investors.
The Fund targets investments in essential water and other strategic infrastructure in the US lower middle market. It has already completed three investments in a 30-year contracted, 142-mile water supply pipeline for the city of San Antonio; a consolidation of regulated water & wastewater utilities; and the acquisition and growth of a regional natural gas utility. Ridgewood Infrastructure anticipates completing a fourth investment prior to quarter-end. In aggregate, these investments will represent approximately 45% of Fund capital commitments.
“It was our pleasure to work with Ridgewood Infrastructure on this very successful fundraise,” says Jeff Eaton, Partner at Eaton Partners. “This fund is a clear example of Ridgewood’s creative, value-adding approach to capital stewardship. Given the underinvestment in US lower middle market and water infrastructure, it’s no surprise this strategy resonated in the marketplace.”
“Eaton Partners was instrumental in introducing us to thought-leading investors,” says Ross Posner of Ridgewood Infrastructure. “We are grateful for their work through the fundraise and for their spirit of partnership.”
