Riverside Fund Blows Past $250 Million Target
Here's a fun debunk: Yesterday Boston Business Journal reported that Riverside Partners had collected $85.6 million in commitments toward its fourth fund, citing an SEC filing for Riverside Fund IV Offshore LP. Technically, Boston Business Journal wasn't inaccurate, but that's kinda like calling Warren Buffett a millionaire. The Boston-based buyout firm indeed raised $85.6 million for its offshore fund, but everyone knows an offshore fund has an "onshore" counterpart. And that fund, in a separate SEC filing, gathered $292.36 million in commitments from 34 investors. So Riverside Partners has $377 million in total commitments. The filing lists a target of $314.365 million in commitments, leaving $22 million yet to be raised. Regardless of whether the offshore fund counts toward that total, Riverside Partners has far surpassed its initial target of $250 million, which peHUB reported in July.
