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.