Riverside Company raises $1.2b

The global private equity firm closes its fifth buyout fund.

The Riverside Company has held a final close for Riverside Micro-Cap Fund V (RMCF V), significantly oversubscribed at hard cap. The firm’s newest buyout vehicle completed fundraising at $1.2 billion in less than four months on the road. The capital commitments exceeded hard cap by more than 50 percent.

The fund will invest in North American companies with up to $10 million of EBITDA. The RMCF team has previously exited more than 30 platforms, including Tate’s Bake Shop and Alchemy Systems, earlier in the year.

RMCF V  surpassed its predecessor fund RMCF IV, which raised $650 million in 2015.