NEW YORK, Jan. 15, 2025 /PRNewswire/ — Ridgewood Infrastructure (“Ridgewood”), a leading investor in essential infrastructure in the U.S. lower middle market, today announced the final close of its second fund, Ridgewood Water & Strategic Infrastructure Fund II LP (“Fund II”), with $1.2 billion in capital commitments, significantly surpassing its $1 billion target.

Fund II attracted a diverse mix of leading institutional investors, including returning and new public and corporate pensions, insurance companies, endowment funds, and asset managers from North America, Europe, Asia, and the Middle East.

A continuation of Ridgewood’s established strategy, Fund II is focused on investments in essential infrastructure businesses and assets that provide critical services in sectors including water, energy, transportation, and utilities. Ridgewood’s operationally oriented, value creation approach emphasizes scaling, professionalizing, and enhancing the strategic positioning of its investments.

“We are grateful for the continued significant support from our existing partners and are excited to welcome several new LPs from across the globe,” said Ross Posner, Managing Partner of Ridgewood Infrastructure. “This is a meaningful milestone for our firm, and we are deeply appreciative of the trust our partners continue to place in our team and strategy.”

Michael Albrecht, Managing Partner, added: “We look forward to continuing to deliver value for our investors and the many communities in which our portfolio companies operate.”

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

Ridgewood has also had notable recent exits from its inaugural fund (“Fund I”). Last October, Fund I sold its controlling interest in the Vista Ridge Water Pipeline, America’s largest water public-private partnership, 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, one of the fastest growing regulated utilities in America.

“Our achievements reflect the exceptional capabilities of our team and the strength of the Ridgewood platform,” said Matthew Swanson, Founding Partner of Ridgewood Infrastructure. “We look forward to building upon this strong foundation of success in the years to come.”

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

About Ridgewood Infrastructure
Ridgewood Infrastructure is a leading infrastructure investor in the U.S. lower middle market with sectors of focus including water, energy, transportation, and utilities. For more information, visit www.ridgewoodinfrastructure.com.

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Contact Information: Ridgewood Infrastructure
527 Madison Avenue, 18th Floor
New York, NY 10022
Phone: (212) 867-0050
Email: [email protected]

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Op-Ed: The Dawn of a Fintech Spring

As the financial technology sector continues to navigate the complex post-pandemic landscape, recent developments suggest a revitalized period of growth and innovation. Key players are making bold moves, partnerships are forming, and underserved markets are gaining attention. In this briefing, we explore the latest headlines and what they reveal about the industry’s trajectory.

Plaid Reports Growth in Revenue and Usage Rates

Plaid, the connective tissue of the fintech ecosystem, has shown remarkable resilience and growth. The company’s CEO recently highlighted a surge in both revenue and usage rates, describing the current period as a “fintech spring.” This growth comes as consumer demand for seamless financial solutions remains high, despite macroeconomic challenges.

Plaid’s ability to maintain relevance is tied to its strategic partnerships and continuous innovation. By enabling applications like Venmo and Robinhood to thrive, Plaid underscores the importance of integration in fostering user trust and utility.

Source: Bloomberg

Warner Bros. Discovery Strengthens Board with Fintech Leadership

Warner Bros. Discovery is diversifying its board by bringing in SoFi CEO Anthony Noto and outgoing IAC Chief Executive Joseph Levin. This move signals the increasing influence of fintech expertise beyond traditional financial sectors. With Noto’s leadership in digital banking and Levin’s extensive background in technology-driven enterprises, Warner Bros. Discovery is positioning itself for a future that seamlessly blends media and financial technology.

This cross-industry synergy could lead to innovative offerings, bridging gaps between entertainment platforms and fintech applications, such as micro-investing and personalized financial recommendations for content consumers.

Source: Reuters

TransUnion to Acquire Monevo

Credit reporting agency TransUnion has announced its plans to acquire Monevo, a leading credit prequalification and distribution platform. This acquisition aims to enhance TransUnion’s capabilities in the credit technology space, allowing it to offer more personalized and accessible financial solutions to consumers.

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By integrating Monevo’s platform, TransUnion is expected to provide lenders with advanced tools to better assess creditworthiness while empowering consumers with prequalified loan offers. This development is particularly timely as consumers increasingly seek transparency and efficiency in credit processes.

Source: TransUnion Press Release

FinVolution Highlights CreditTech Opportunities in Southeast Asia

Ming Gu, Senior Vice President of FinVolution, emphasized the transformative potential of CreditTech in Southeast Asia during his address at the Asian Financial Forum. With a significant portion of the region’s population still underserved by traditional financial institutions, CreditTech presents a unique opportunity to bridge the gap.

Gu pointed out that leveraging AI and data analytics can help tailor credit solutions for diverse needs, ultimately fostering financial inclusion and economic growth in these emerging markets. FinVolution’s insights reaffirm the critical role of fintech in empowering underserved communities.

Source: PR Newswire

Glenbrook Partners Launches On-Demand Learning Program

Payments consultancy Glenbrook Partners has introduced an on-demand learning platform designed to educate professionals in the payments industry. This initiative is expected to address the growing need for skilled talent as digital payment ecosystems expand globally.

The program offers modular content covering foundational and advanced topics, catering to professionals at various stages of their careers. By equipping individuals with in-depth knowledge, Glenbrook is contributing to the industry’s sustainability and growth.

Source: PR Newswire

Analysis and Takeaways

These stories collectively highlight a few key trends shaping the fintech landscape:

1. Resilient Growth: Plaid’s trajectory reaffirms that consumer-centric innovations drive sector resilience even during economic uncertainties.
2. Cross-Industry Integration: Warner Bros. Discovery’s board appointments underline fintech’s permeation into traditionally non-financial domains.
3. Strategic Acquisitions: TransUnion’s acquisition of Monevo showcases how established players are leveraging fintech to enhance service offerings.
4. Global Inclusivity: Efforts by FinVolution and others highlight the role of fintech in addressing global financial disparities.
5. Education and Skill Development: Initiatives like Glenbrook’s program reflect a proactive approach to fostering a knowledgeable workforce.

The post Fintech Pulse: Your Daily Industry Brief (Plaid, Warner Bros., TransUnion, Monevo, FinVolution, CreditTech, Glenbrook Partners) appeared first on News, Events, Advertising Options.

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NEW YORK, Jan. 15, 2025 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private investment firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors, is pleased to announce several promotions and team additions.

Promotions include Karina Perelmuter to Managing Director, Megan E. Kanefsky to Director, Bridget A. Harding to Vice President and Bailee D. Glass to Associate.  “Our latest promotions highlight the exceptional contributions by these individuals as well as our established track record cultivating career progression,” said Louis N. Mintz, Partner. “Their dedication and impact across our own organization and our portfolio companies illustrates our commitment to excellence and fostering sustained success.” 

The firm also recently welcomed several new investment professionals including Sandra Wong, Jack R. Chandler, Yosef W. Medhin, Jack R. Smith and Emily O. Strambi.  JFLCO’s functional capabilities were augmented with the addition of Isabel R. Grabel and Jessica S. Godt in Investor Relations, Miguel Zhindon in Technology and Grace Xu in Finance & Accounting.

“We continue to attract outstanding new talent following the successful closing of our latest buyout fund,” said Glenn M. Shor, Partner.  “These new team members further enhance the firm’s capacity and capabilities.”

Recent Promotions

Karina Perelmuter, Managing Director, Marketing & Investor Relations.  Prior to joining the firm in 2019, Ms. Perelmuter served as a Vice President in Lazard’s Private Capital Advisory practice, a member of the Investor Relations team at Tiger Global and a Fund Accountant at Mount Kellett.  She began her career in Assurance at Ernst & Young.  Ms. Perelmuter graduated magna cum laude from American University, where she earned a B.S. in finance and accounting.

Megan E. Kanefsky, Director, Human Capital.  Prior to joining the firm in 2021, Ms. Kanefsky spent 15 years in the Human Resources Group at Blackstone, where she focused on recruiting, benefits administration, performance evaluation and organizational development.  Ms. Kanefsky earned a B.A. in psychology from the University of Maryland and an M.A. in industrial and organizational psychology from Baruch College.

Bridget A. Harding, Vice President.  Prior to joining the firm in 2020, Ms. Harding began her career as an Investment Banking Analyst in Goldman Sachs’ Global Industrials Group.  Ms. Harding graduated summa cum laude from Lehigh University, where she earned a B.S. in accounting and finance.

Bailee D. Glass, Associate.  Prior to joining the firm in 2022, Ms. Glass began her career as an Alternative Investments Research Analyst in BlackRock’s hedge fund solutions group.  Ms. Glass graduated from the University of Chicago, where she earned a B.A. in economics.

Investment Team Additions

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Sandra Wong, Vice President, Credit.  Prior to joining the firm, Ms. Wong served as Vice President on the U.S. Investment Team at Strategic Value Partners, where she focused on distressed and special situations opportunities.  She began her career as an Investment Banking Analyst at Credit Suisse, where she later transitioned to the Private Equity Group.  Ms. Wong earned a B.A. in business economics as well as a minor in accounting from UCLA and an M.B.A from the Wharton School at the University of Pennsylvania.

Jack R. Chandler, Associate.  Prior to joining the firm, Mr. Chandler began his career as an Investment Banking Analyst at Grace Matthews.  He graduated magna cum laude from the University of Notre Dame, where he earned a B.B.A. in finance and applied computational mathematics and statistics.

Yosef W. Medhin, Associate.  Prior to joining the firm, Mr. Medhin was an Investment Banking Analyst in Citi’s Industrials Group and began his career as an Investment Banking Analyst at Deutsche Bank. He graduated from Washington and Lee University, where he earned a B.S. in business administration.

Jack R. Smith, Associate.  Prior to joining the firm, Mr. Smith began his career at Morgan Stanley in the Private Equity Solutions group. He graduated summa cum laude from Drexel University, where he earned a B.S. in finance.

Emily O. Strambi, Analyst.  Prior to joining the firm, Ms. Strambi began her career as an Equity Trading Analyst at the Royal Bank of Canada, where she covered the healthcare and consumer sectors.  She graduated magna cum laude from the Wharton School at the University of Pennsylvania, where she earned a B.S. in economics with concentrations in finance and business analytics as well as a minor in legal studies and history.

Other Team Additions

Isabel R. Grabel, Marketing & Investor Relations. Prior to joining the firm as a Senior Associate, Ms. Grabel was a Senior Associate at Harvest Partners, where she focused on private equity investments in industrials, healthcare, business services and consumer products.  She began her career as an Investment Banking Analyst at Jefferies.  Ms. Grabel graduated from the Ross School of Business at the University of Michigan, where she earned a B.B.A. with a concentration in finance and financial management services.

Jessica S. Godt, Marketing & Investor Relations.  Ms. Godt joined JFLCO in 2024 to support and consult on the firm’s marketing and fundraising efforts across private equity and credit strategies.  Previously, Ms. Godt served as Vice President of Investor Relations at Warwick Investment Group and began her career in Lazard’s Private Capital Advisory practice.  She earned a B.S. in commerce with concentrations in finance and management and a minor in business analytics from the University of Virginia.

Miguel Zhindon, Enterprise Technology.  Prior to joining the firm as a Vice President, Mr. Zhindon served as a Senior Technology Consultant at iCorps Technologies, tailoring IT strategies, training and technical support for JFLCO and other clients.  Previously, Mr. Zhindon held various roles in network administration and telecommunications.  He began his career in the United States Marine Corps and graduated from Pace University, where he earned an M.S. in information systems and assurance.

Grace Xu, Finance & Accounting.  Prior to joining the firm as an Assistant Controller, Ms. Xu served as a Business Unit Controller at Millennium Management.  Previously, Ms. Xu worked as a Manager at PricewaterhouseCoopers in the financial services group. Ms. Xu earned a B.S. in accounting from Pennsylvania State University. Ms. Xu is a Certified Public Accountant.

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About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com

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