Backers of JetBlue close fund

Yet another Utah private equity firm, Peterson Partners, has closed a private equity fund and named an elite list of corporate executives as ‘investment partners.’ The firm was an early investor in discount airline success JetBlue.

Peterson Partners, a Salt Lake City, Utah, private equity firm, has announced a final close on its first third-party fund, rounding up a total of $105 million (€87 million).


The firm acquires small- and mid-sized ‘companies with proven business models and high-growth potential,’ according to a press release.


Among other investments, the firm was an early investor in JetBlue, the discount airline. JetBlue’s founder, David Neeleman, is a native of Salt Lake. Neeleman has been named an ‘investment partner’ of the new fund, along with a list of other high-profile corporate executives, including:


Dave Checketts, former CEO of New York exhibition venue Madison Square Garden


Robert Nakasone, former CEO of Toys R Us and a Staples board member


Martin Trust, founder of Mast Industries and member of the boards of The Limited and Staples


The investment partners also include:


Roger Davisson, former general partner of venture firm Brentwood Venture Partners


Rowland Moriarty, chairman of Charles River Associates


Steve Wheelwright, Harvard Business School professor


Peterson Partners was founded in 1995 by Joel Peterson and Jordon Clements. Prior to founding Peterson Capital, Peterson worked as CFO of Trammell Crow Company. Was an attorney in San Francisco for 13 years. His practice focused on building emerging companies in a broad range of industries.


Also this week, Utah buyout firm Sorenson Capital announced a final close of $250 million on its debut fund.