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Fidelity boosts buyout team with 10-year Bain veteran

Ian Blasco will help the mid-market firm deploy its debut fund, closed last year on $500m.

Fidelity Equity Partners, an affiliate of the Boston-based mutual fund giant, has hired former Bain Capital executive Ian Blasco to help lead tech, communications and business services deals.

He previously spent 10 years at Bain Capital, where he focussed on investments in technology, media and consumer retail and helped lead deals including the $3.5 billion buyout of OSI Restaurant Partners, a US restaurant group that owns chains including Outback Steakhouse, in 2006.

Ian Blasco

Blasco will be based in Fidelity’s Boston office and will work to expand US and European portfolio companies valued between $50 million and $150 million, which grow organically at more than 10 percent annually, the firm said.

“With the addition of Ian, we have assembled a team that, collectively, has completed nearly 100 private equity deals,” said Brooke Ablon, Fidelity partner.

Blasco joins existing partners Rob Ketterson, Brooke Ablon and Gray Hall in Boston, and Nick Martin and Sebastian McKinlay in London. 

Fidelity closed its first fund last year on $500 million. It recently completed its third deal, with the purchase of a minority stake in London-based financial services firm Complinet.