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The Riverside Company eyes first non-buyout fundraise with new credit vehicle

22 Nov 2013

riverside_hendrickson_170sqMid-market private equity firm The Riverside Company is reportedly looking to raise its first credit fund as it approaches a final close for its latest buyout vehicle.

The Strategic Capital Fund will take minority-only positions according to COO Pam Hendrickson, pictured, who spoke to Thomson Reuters LPC.

She said the fund would look to make investments in business where the owner did not want to give up control, and will use multiple forms of junior capital.

Riverside held a third close for its latest buyout fund in the summer and is thought to be ready to close another round of capital in the next couple of weeks.

The fund had pulled in $1.48bn in July according to a source with knowledge of the fundraise.

AltAssets reported in May that the firm had held a $1.29bn first close and expected to close the fund on its $1.5bn hard cap, well ahead of the initial $1bn target.

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