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Huntsman Gay nears $1.2bn close

The new private equity firm will be among the lucky few to have a fresh pile of 'dry powder', managing director and former NFL football star Steve Young told a conference crowd in Las Vegas. Huntsman Gay was formed by Utah industrialist Jon Huntsman and former Bain managing director Robert Gay.

Huntsman Gay Global Capital will close its debut private equity fund on $1.2 billion at the end of the month, according to Steve Young, a managing director with the firm.

Young mentioned the fund closing during his speech to delegates of the ACG InterGrowth conference in Las Vegas.

Steve Young

Huntsman Gay was formed by Utah industrialist Jon Huntsman and former Bain Capital managing director Robert Gay. Among the eight managing directors is Steve Young, formerly the quarterback for the San Francisco 49ers, the professional football team. Young left Salt Lake City, Utah-based private equity firm Sorenson Capital to join Huntsman Gay.

The firm pursues a generalist strategy through buyouts, growth equity investments and investments in mid-cap public companies, according to its website. It maintains offices in Salt Lake City, Utah, Palo Alto, California and Foxborough, Massachusetts.

Young’s speech focused mainly on the lessons he learned during his years in professional American football. He likened investing in the current business environment to playing football in foul weather.