Private equity firm Sorenson Capital has closed its second private equity fund, which has attracted approximately $400 million in capital. It is the largest closing to date for a Utah-based p.e. firm.
Sorenson is best known for its high-powered management team, including founding managing directors Fraser Bullock, who was chief operating officer of the 2002 Salt City Winter Olympics; Ron Mika, a former managing director of Bain Capital; and Tim Layton, former president and CEO of Medeco Security Locks and managing director of Alpine Consolidated.
“We want to find and help grow enterprises in the western United States that have promising products or services and positive cash flows,” said Bullock. “We’re Westerners ourselves and we believe many of the businesses in this region have plenty of untapped potential.”
Sorenson Capital Partners II will invest primarily in companies with revenues between $30 million and $300 million.