Foshee Family Office Spinoff Sallyport Closes Debut PE Fund at $160M

Houston-based lower to middle-market private equity firm Sallyport said January 13 that total capital commitments to its maiden fund reached $160M at closing, surpassing its $150M target.

Sallyport Partners Fund made its first sale on November 30, 2023, according to a same-day Form D filing with the SEC, initially raising $100.4M from 32 investors. In a news release announcing the close, the firm said the fund will focus on supporting early-stage founder and family-owned businesses, corporate carveouts and starting businesses exposed to various industries.

Sallyport was founded in 2023 by former El Paso Corp. CEO Doug Foshee, who serves as chairman of the firm, and managing partners Kyle Bethancourt and Ryan Howard. The trio managed investments for Foshee’s family office for more than a decade before striking out to form Sallyport. A member of the investment committee, Foshee also seeded the fund, which attracted investment from high-net-worth individuals and families, primarily from Texas.

Written By: Dakota

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