Private equity firm Blue Sea Capital LLC has closed its debut fund with $327 million in commitments. Blue Sea is one of many PE firms to recently close a fund during the best fundraising climate in years. 

The fund, Blue Sea Capital Fund I LP, was oversubscribed from the initial $300 million target. The firm completed fundraising in one year. Investors include pension funds, insurance companies, fund of funds, endowments and multi-family offices. About 10 percent of the fund's commitments came from Blue Sea's general partner and affiliates.

Palm Beach, Florida-based Blue Sea will focus on investing up to $60 million in aerospace and defense, health care and industrial growth companies.

Firm partners, J.R. Davis and Rick Wandoff were previously with PE firm Brockway Moran & Partners, while partner Mark Silk Rick Wandoff was with Tri-Star Electronics. Principals include Andy Boswell, Scott Kirkendall and Matt Turk.

Kirkland & Ellis LLP represented Blue Sea for the fund closing.

Private equity firm Shore Capital also announced on June 5 that it closed a private equity fund that will focus on lower middle-market health care investments. 

 

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.