Huntsman Gay Raises $1.1 Billion for Debut Fund
Huntsman Gay Global Capital today will announce that it has closed its debut fund with more than $1.1 billion in capital commitments. The mid-market buyout shop effectively finished fundraising months ago, but delayed its final close to accommodate a handful of stragglers. "Getting fundraising finished removes a bit of a distraction for us, and now we can completely turn 100% of our attention to deals," says Steve Young, the former NFL quartback who is one of Huntsman Gay's nine managing directors. "We did a deal late last year and intend to close two more in the next couple of quarters." Huntsman Gay's investment strategy is to write equity checks of between $50 million and $100 million, to acquire mid-market companies with at least $20 million in EBITDA. Perhaps more interesting, however, is what will happen to some of Huntsman Gay's profits, once those investments are exited.
