Blackstone Billionaire Tony James' Family Office Spawns New Firm.

Madison River Capital, a private equity firm, has been created by Tony James' family office with backing from Blackstone Inc. The firm is seeking $400 million from family offices and institutional money managers for its first fund, with almost half already raised. This move represents a change in how James manages his fortune, as he previously oversaw his private equity investments through his family office. Madison River Capital focuses on investments in the healthcare, industrials, and business-services sectors. [Extracted from the article]