Fund alert: Riverside collects $650m

The firm raises its largest buyout vehicle to date.

Riverside Micro-Cap Fund IV, launched in August 2015, has held a final close at its hard cap of $650 million. The firm's largest buyout vehicle to date invests in North American companies with up to $7 million of EBITDA.

Investors in the fund include Makena Capital, Maine Public Employees Retirement System, Michigan Department of Treasury and Missouri Local Government Employees' Retirement System.

The Riverside Company’s previous micro-cap fund, Riverside Micro-Cap Fund III, raised $350 million in June 2014, also beating its target of $225 million.