Riverside closes second Asia fund at $235m

According to a release, new investors accounted for around 30% of the fund's total corpus, with return LPs making up the remainder.

Disclosed LPs include Babson Capital Management as investment advisor to Massachusetts Mutual Life Insurance, clients of Macquarie Investment Management, Commonwealth Superannuation Corporation, Development Bank of Japan and Munich Private Equity Partners.

The new vehicle will follow a similar strategy to its predecessor, targeting companies with less than $15 million in EBITDA across the Asia Pacific region. The GP intends to leverage its global footprint to drive growth in its portfolio companies while completing strategic add-on investments.

"Buyouts in the smaller end of the middle market are still a relatively new business in the Asia-Pacific region," said Riverside Co-CEO Stewart Kohl. "Because of that, there are some remarkable opportunities to grow outstanding companies that meet our criteria."

The fund's operations will be led by Asia-based Managing Partner Stuart Baxter who has been with Riverside since 1997 and has been in charge firm's Asian portfolio since its inception. He explains that Riverside's s approach has often been to partner with family-founded companies, helping them institutionalize their business and taking them global.

"We are finding business owners all across the Asia-Pacific region who seek optimal timing for liquidity while also building sustainable legacies upon their exit," said Baxter.

Riverside's investments over the past year have included: Japanese bicycle shop chain Y International, acquired last November; New Zealand animal drug delivery company Simcro, acquired in July; and Australian military software developers Bohemia Interactive Simulation, which it backed in January last year.

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• Topics
• Fundraising
• Buyout
• Fundraising
• The Riverside Company
• buyout
• Asia