Blue Sage Capital, a private equity firm based in Austin, TX, has successfully closed its Blue Sage Capital IV, L.P. fund at $618 million, with significant backing from the General Partner and a diverse group of Limited Partners, including endowments and pension funds. Established in 2002, the firm focuses on investing in lower-middle market businesses, particularly in environmental solutions, niche manufacturing, and specialty services across North America. Blue Sage plans to invest between $25 million and $60 million in companies with revenues of $25 million to $200 million. This brings the firm’s total capital raised to over $1.2 billion.