Blue Sage Closes Fund 2 at $150 Million Hard Cap
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Blue Sage Closes Fund 2 at $150 Million Hard Cap

Blue Sage Capital has held a first and final closing of its oversubscribed second fund, Blue Sage Capital II, L.P.  Capital commitments totaled $150 million, above the $100 million target size.

Blue Sage received support from existing investors as well as new limited partners.  Blue Sage Capital II’s limited partners include large financial institutions, private equity fund of funds, family offices, endowed trusts, government entities, and the partners of Blue Sage, who represent the largest commitment to the fund.  The new fund will continue Blue Sage’s strategy of investing in founder-owned businesses in Texas and the Southwest with $3 million to $10 million of cash flow.

Blue Sage is led by founding members, Peter Huff and Jim McBride, and has a team of five investment professionals including Adam Norris, Chris Petrini, and Ali Williford.  Eric Weiner, a former Berkshire Partners professional in Boston, will join the team this summer after he completes his MBA at Stanford.  The firm anticipates adding one or two additional investment professionals early next year.

Blue Sage Capital specializes in growth, recapitalization and buyout financings of smaller middle-market companies based in Texas and the Southwest.  Most of Blue Sage’s investments are in established, profitable companies with $10 million to $100 million of revenue and $3 million to $10 million of cash flow at the time of investment.  Blue Sage invests in a variety of industries, with each initial investment in a company ranging from $10 million to $15 million. The firm is based in Austin, TX (www.bluesage.com).

John Barnidge, a senior executive of R360 Environmental Solutions, a Blue Sage portfolio company that recently sold to Waste Connections for over $1.3 billion in cash said, “Blue Sage has been an active and supportive partner, helping us grow in spite of difficult economic times, and leading us through a very successful recent exit.  I look forward to continuing my partnership with the firm as an investor in Blue Sage Capital II.

© 2012 PEPD • Private Equity’s Leading News Magazine • 12-14-12

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