Ridgewood Infrastructure Raises $1.2B for Second Fund

Ridgewood Infrastructure announced that it captured a total of $1.2B in capital commitments on the final close of its Ridgewood Water & Strategic Infrastructure Fund II.

The second-generation fund was oversubscribed, surpassing its $1B target with strong backing from institutional investors from North America, Europe, Asia, and the Middle East. Per Dakota data, Fund II received support from public pensions including Sacramento County Employees Retirement System, State of Michigan Investment Board, San Jose Federated City Employees Retirement System, and City of San Jose Police and Fire Department Retirement, with the Michigan pension alone allocating $75M to the infrastructure strategy.

Fund II will build on its predecessor fund’s investments in public-private partnerships. Fund I recently exited its controlling interest in Texas-based natural gas company SiEnergy, as well as in the Vista Ridge Water Pipeline in October last year. Meanwhile, Ridgewood said Fund II has also already made investments, including the water treatment plant Prospect Lake Clean Water Center in Fort Lauderdale, FL.

Eaton Partners served as placement agent and Vinson & Elkins LLP as legal advisor to Ridgewood for the fundraiser.