Ridgemont Equity Partners closed the Ridgemont Equity Partners III LP fund at $1.65 billion.

The amount raised was contributed by existing limited partners and new investors and includes a substantial commitment from the fund's general partner.

The Charlotte, N.C.-based middle-market buyout and growth equity investor, through the fund, aims to invest $50 million to $250 million in its core markets comprising business and industrial services, energy, healthcare and technology and telecommunications.

Credit Suisse Securities (USA) LLC was the exclusive placement agent, and Proskauer Rose was fund-formation counsel.