Sageview Capital eyes $800 mln for Fund II after hot GoPro IPO

Firm: Sageview Capital

Fund: Sageview Capital Partners II

Target: $800 million

Sageview Capital sold about $10.5 million in GoPro shares in the company’s June 25 IPO at $24 a share. It was the first U.S.-based consumer electronics maker to go public since Skullcandy Inc. in 2011. Since then, the stock has risen to nearly $90 a share. Sageview Capital retained 6.5 million shares, with a total value of about $585 million, based on recent trades of its GoPro stock.

Other investors in GoPro included manufacturer Foxconn, Riverwood Capital, Steamboat Ventures, Walden International and US Venture Partners.

Sageview Capital’s $800 million target for Fund II matches the fundraising objective for the firm’s debut private equity fund, according to regulatory filings. The firm had raised at least $500 million toward that target, according to a Form D filing at the time.

A spokesman for Sageview Capital declined to comment.

Ned Gilhuly and Scott Stuart, partners at KKR from 1995 to 2005 and members of the firm’s investment committee from 2000 to 2006, set up the firm with a hybrid approach to generate “attractive risk-adjusted returns” from a portfolio of investments in both private and public companies in North America and Europe, according to its website.

Nowadays, the firm employs 20 professionals, including a 12-person investment team, with offices in Greenwich, Conn, Palo Alto, Calif and Stockholm, Sweden.

The firm’s insiders weighed in as the single largest investors in their debut fund, with more than $110 million of committed capital, according to the firm’s website.

The firm lists 15 current portfolio companies and 36 prior investments. It groups its portfolio companies into four general categories: energy, financial and business services, technology and other.