- Bluestone is being led by founder and Managing Partner Bobby Sharma and Partner Kyle Charters
- Foley & Lardner LLP served as legal advisor to Bluestone and Bluestone Capital I
- No placement agent was used
Bluestone Equity Partners has closed its inaugural growth equity fund at $300 million.
Bluestone Capital I is focused on the global sports, media & entertainment industry.
Bluestone is being led by founder & managing partner Bobby Sharma and partner Kyle Charters.
Sharma’s previous roles include global head of basketball & strategic initiatives at IMG, general counsel of the NBA Development League (now G-League) at the NBA and vice chairman and CEO of Soccerex.
Charters joins from Inner Circle Sports, an investment bank focused on sports, media & entertainment, where he established and ran its technology and services practice over the last decade. Prior to ICS, he was a private equity investor at Hamilton Lane, and started his career as a consultant in Ernst & Young’s business advisory group.
“We’re proud to unveil Bluestone Equity Partners and our first growth equity fund, to capitalize, guide, and grow high-quality assets in the sports, media, and entertainment industry,” said Sharma, in a statement. “Our fund was oversubscribed with interest, with a single closing consisting exclusively of institutional-grade capital. This not only reflects a high degree of investor confidence in Bluestone, but also a validation of our differentiated strategy to unlock value through both control and minority positions across sectors and asset types.”
At launch, Sharma and Charters are joined by other private equity professionals, including Walker Brumskine, who joins as a principal from Apollo Global Management, and Jack Ross, who joins as an associate from The Blackstone Group.
Foley & Lardner LLP served as legal advisor to Bluestone and Bluestone Capital I, L.P. No placement agent was used.
Bluestone Equity Partners is headquartered in New York City.