AUSTIN, Texas – Blue Sage Capital, an Austin, Texas-based private investment firm, announced today the 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 strong support from existing investors as well as new limited partners. Blue Sage’s investors include a diverse group of limited partners such as large financial institutions, private equity fund of funds, prominent family offices, endowed trusts, government entities, and the partners of Blue Sage, who represent the largest commitment to the fund.
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, is slated to 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.
Wells Fargo’s Tim Rafalovich, a senior member of the bank’s private equity fund investment team, stated that “Blue Sage is a respected fund in the private equity industry. We appreciate their partnership and congratulate them on their recent successes.”
In its first fund, Blue Sage invested in thirteen companies in a variety of industries. Blue Sage’s portfolio includes oilfield waste manager, R360 Environmental Solutions; wastewater equipment company, Ashbrook Simon-Hartley; pizza chain, Mr. Gatti’s; and mannequin designer, Fusion Specialties.
Blue Sage Capital II will continue Blue Sage’s proven strategy of investing in founder-owned businesses in Texas and the Southwest with $3 million to $10 million of cash flow, where Blue Sage can add value by partnering with management to build and grow great companies.
John Barnidge, a senior executive of R360 Environmental Solutions, a Blue Sage portfolio company that recently sold to Waste Connections, Inc. for over $1.3 billion in cash, noted that “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.”
About Blue Sage Capital
Blue Sage Capital is an Austin, Texas-based private investment firm specializing 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 typically ranging from $10 million to $15 million. For more information regarding Blue Sage, please visit www.bluesage.com.
Please contact Peter Huff of Blue Sage Capital at (512) 536-1901 for any requests for comments or questions.