Ridgewood Infrastructure Secures $1.2B for Clean Water Fund

Ridgewood Infrastructure, a lower middle market-focused infrastructure investor, held the final close of its second fund with $1.2 billion in capital commitments, surpassing its $1 billion target.

Ridgewood Water & Strategic Infrastructure Fund II LP will continue the firm’s strategy of investments in essential infrastructure businesses and assets, including water, energy, transportation, and utilities.

Ridgewood raised the capital from returning and new public and corporate pensions, insurance companies, endowment funds, and asset managers from North America, Europe, Asia, and the Middle East.

Fund II has already made several notable investments, including the Prospect Lake Clean Water Center, which will provide approximately 80% of Fort Lauderdale’s fresh water under a 30-year concession agreement.

NYC-based Ridgewood has also exited investments from its debut fund. Last October, Fund I sold its controlling interest in the Vista Ridge Water Pipeline, which supplies approximately 20% of San Antonio’s fresh water under a 30-year concession agreement. Earlier this month, Fund I also sold its controlling interest in SiEnergy.

Eaton Partners, a Stifel company, acted as the placement agent, and Vinson & Elkins LLP served as legal counsel for the fund.