$300M Sports Fund Launched by Bluestone Equity Partners

Bluestone Equity Partners (Bluestone) is a private equity firm that today announced the closing of Bluestone Capital, the company’s inaugural $300 million growth equity fund focusing on the global media, sports, and entertainment industries.

Bluestone’s Founder and Managing Partner Bobby Sharma, along with Partner Kyle Charters will be focusing on established businesses and proven assets. This will allow the management team to benefit from their unique combination of investment and blue-chip experience, global network, and track record.

Bluestone is the next chapter of Sharma’s distinguished career that spans finance, strategy and management, operations, law, and finance. He was previously the Global Head of Basketball & Strategic Initiatives for IMG, the General Counsel of NBA Development League (now G-League), and Vice Chairman & CEO at Soccerex.

“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. “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. The Bluestone team is driven by an exceptional combination of operational, management, and transactional expertise, along with a proven ability to effectuate proprietary deals on a truly global scale.”

Sharma was responsible for the development of several businesses, including international media rights, professional soccer and cricket properties, as well as international media rights. Sharma was a National Basketball Association employee and helped to create and manage the NBA’s first Minor League.

He also managed team and league business, as well as operational matters such as team acquisitions and financings. Sharma also helped to create the NBA’s first international league consultancy business unit.

Sharma is a Duke University graduate and Duke Law School alumnus. He was also recognized by Korn Ferry as one of 25 most influential South Asian executives in the Media & Entertainment Industry.

He is currently a member of the United States Tennis Association (USTA) and USA Archery(USAA) Board of Directors, along with other corporate boards and charitable boards.

Charters joined Inner Circle Sports (ICS), a top investment bank specializing in sports, media & entertainment. He established and managed its technology and services department over the past decade. He was responsible for M&A transactions as well as capital raises and capital raisings for software, data and content.

Charters advised professional teams in North America and Europe on institutional financings. Before joining ICS, he worked as a private equity investor for Hamilton Lane and began his career in Ernst & Young’s business advisory group.

Charters was awarded the Sports Business Journal’s prestigious “Forty Under 40 Award”. He also received an M.B.A. at Dartmouth’s Tuck School of Business, and is a graduate of Notre Dame where he was a walkon with the Fighting Irish football team.

“Bluestone’s investment philosophy is to partner with exceptional management teams, boards, and investors who we believe can achieve extraordinary results. We have a clear strategy to invest in, grow, and scale businesses and properties with proven models that will benefit from the strength of our sports, media & entertainment industry expertise and relationships,” said Charters. “Bluestone’s strategic capital and ability to drive value will create a significant competitive advantage for our portfolio companies and partners.”

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