SOURCE: Blue Point Capital Partners, LLC

Blue Point Capital Partners, LLC

November 03, 2014 08:45 ET

Blue Point Capital Partners Closes Third Buyout Fund at $425 Million Hard Cap

CLEVELAND, OH--(Marketwired - November 03, 2014) - Blue Point Capital Partners announced today the closing of its third fund, Blue Point Capital Partners III, L.P., at $425 million. Blue Point has raised more than $1.2 billion in capital across three institutional funds and will continue to partner with entrepreneurs and management teams to invest in and grow leading middle-market companies.

"We are pleased to have exceeded our target and reached our hard cap for Blue Point III," said Chip Chaikin, a partner with Blue Point. Blue Point originally targeted $400 million for the fund, consistent with the size of its two previous funds. "Sophisticated investors have numerous options today to access the middle-market private equity asset class. We are gratified that many leading institutional investors, including a significant number of new investors, have confidence in our strategy and team."

The fund, which closed on October 30, 2014, will continue to focus on investments in the lower middle market where applying operational resources and capital can strongly impact a company's growth. Investing in manufacturing, distribution and service businesses with between $20 million and $200 million in revenue, Blue Point has a track record of success in a range of industries, including utility and environmental services, engineered components, industrial outsourcing and specialty distribution.

John LeMay, also a partner with Blue Point, said, "Fund III will continue to build on our strategy of regional sourcing and leveraging our excellent operating partners and operating resources in China. We are grateful to our management team partners -- our success is a reflection of their strong contributions."

Blue Point has already completed two platform investments for the new fund: OrthoLite (April 2014), a leading supplier of performance insoles and related shoe components to more than 130 of the world's leading branded footwear companies, and Hilco Vision (May 2014), a leading designer, manufacturer and distributor of eyewear and eye care accessories, supplies and equipment.

Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. Leveraging offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point's entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. Blue Point has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point's network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm's experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.

Contact Information

  • BLUE POINT CAPITAL PARTNERS
    Chip Chaikin
    Partner
    John LeMay
    Partner
    Blue Point Capital Partners, LLC
    127 Public Square, Suite 5100
    Cleveland, OH 44114
    (216) 535-4700