Blackstone Billionaire Tony James’ Family Office Spawns New Firm - Bloomberg
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Blackstone Billionaire Tony James’ Family Office Spawns New Firm

  • Madison River Capital oversees about $1.6 billion in assets
  • Private equity firm seeks to raise $400 million for first fund
Tony JamesPhotographer: Jeff Kowalsky/Bloomberg
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Tony James’ family office has spawned a private equity firm backed by the Blackstone Inc. billionaire that’s courting investment firms for other members of the world’s super-rich.

Madison River Capital, made up of the former private equity team at James’ investment firm, is seeking about $400 million from family offices and institutional money managers for its first fund, with almost half the total already raised, according to a person with knowledge of the matter. The fund is set to close this year, said the person, who asked not to be identified as the details are private.

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