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Sorenson Capital promotes three, hires another full-time

27 Mar 2013

Mark Ludwig Sorenson CapitalSorenson Capital, a US private equity fund co-founded by original Bain Capital partner Fraser Bullock, has made three promotions and a full-time hire.

Mark Ludwig, pictured, has been promoted to managing director, Don Blohm to performance group operating partner and Peter Sturgeon to principal, while Bert Roberts has gone full-time by being hired as a vice-president.

Ludwig has spent just under ten years rising from analyst to managing director at Sorenson having joined the firm from Bain & Company.

Blohm joined the firm as performance group vice president in 2010, Sturgeon came on board from Boston Consulting Group in 2006 and Roberts was previously a vice president at Wasatch Advisors.

Sorenson was founded in Salt Lake City by original Bain Capital partner Fraser Bullock, ex-Bain Capital managing director Ron Mika and former Alpine Consolidated managing director Tim Layton in 2003.

It gained its name from billionaire philanthropist James LeVoy Sorenson, then Utah’s richest man, who was an anchor investor in the firm.

Steve Young and Richard Lawson were also original principals at the firm.

Bullock helped launch Bain Capital in 1984 alongside former Republican presidential candidate Mitt Romney.

He went on to join Romney as COO of the organising committee for the 2002 Winter Olympic games in Salt Lake City, which had hired Romney as president and CEO.

Speaking of the promotions and hire Bullock said, “With the team we have in place, Sorenson Capital has the talent and expertise required to deliver exceptional value for our portfolio companies.

“Mark, Don, Peter and Bert have continually proven their value to our firm`s portfolio companies and shareholders.

“We have every confidence in our team`s ability to partner and grow with the complex, compelling businesses we invest in, and look forward to gearing up for new investment opportunities in the coming year.”

The fund is managed and controlled by West Rim Capital according to its website, and last raised a $400m pool of capital in 2008.

It has $650m of capital under management across its two vehicles and makes small to mid-market buyout and growth equity investments.

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