Ridgewood Infrastructure, LLC announced the final close of Ridgewood Water & Strategic Infrastructure Fund, LP at its hard cap of US$ 600 million. The Fund had initially targeted US$ 500 million of capital commitments and was oversubscribed.
Ridgewood Infrastructure invests in essential infrastructure in the U.S. lower middle market. The Fund has made three investments to-date, which include a 30-year contracted, 142-mile pipeline to supply the city of San Antonio with approximately 20% of its freshwater; a consolidator of regulated water & wastewater utilities; and a regional regulated natural gas utility. Ridgewood Infrastructure anticipates closing the Fund's fourth investment prior to quarter-end. In aggregate, these investments will represent approximately 45% of the Fund's capital commitments.
The Fund received commitments from a diverse group of leading North American and European institutional investors including public and private pension funds; insurance companies; endowments and foundations; and specialized infrastructure-focused investment firms. Vinson & Elkins LLP acted as Fund counsel and Eaton Partners as placement agent.