Dossey joins Blum Capital

Doug Dossey has joined Blum Capital Partners, a San Francisco-based buyout firm.

Dossey was previously a managing director at FdG Associates for 11 years. Dossey made the move in August after Blum Capital approached him in March, possibly as a result of attention from his work on the firm’s buyout of infrastructure company Joseph B. Fay & Co.

Dossey said he wasn’t looking to leave the firm he spent 11 years with, but found the prospects of Blum Capital’s buyout segment intriguing. As a partner with Blum Capital, he is charged with “re-energizing” the firm’s private equity business.

Blum Capital is technically a private equity firm, but its mandate includes investments in public companies in the form of PIPEs. Likewise, the firm has a generous recycling provision for returns on public equity investments. Dossey said, over the years, the firm’s business has evolved toward the public markets side, so he was brought in to lead a renaissance of its private deals side.

“I’ll continue to do the same things I did at FdG, including finding opportunities where Blum can be the first institutional money to the business,” he said. FdG Associates invests almost exclusively in family-owned businesses.

Size-wise, the move is a step up-market for Dossey. Blum Capital’s most recent fund is a $3 billion pool. FdG Associates’ latest fund is a 2005 vintage with $310 million in commitments.

Likewise, Blum Capital, based in San Francisco, has invested in some high profile situations, such as Al Gore’s Current Media and TPG’s deal for Australian retailer Myer.

That’s a different world than that of FdG, which buys lower mid-market family-owned businesses. In February, Dossey lead the firm’s buyout of infrastructure company Joseph B. Fay & Co. The deal was valued at about $100 million. —Erin Griffith