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Ridgemont Equity Partners raises $320m

The opportunity fund will invest alongside the firm's flagship vehicle.

Ridgemont Equity Partners held a final close at $320 million for its Energy Opportunity Fund (EOF), surpassing its original target of $300 million.

The EOF, a companion fund to the firm’s $995 million flagship vehicle Ridgemont Equity Partners II (REP II), will continue Ridgemont’s strategy of providing equity checks from $50 million to $200 million to management teams across the energy sector. According to the Charlotte-based firm’s press release, the EOF will invest alongside the main vehicle.

The State of Wisconsin Investment Board has committed $50 million to the EOF.

Investors in REP II, which closed in 2015, include the Alaska Permanent Fund, the Pennsylvania State Employees’ Retirement System and the Public Employees’ Retirement System of Nevada.