BETHESDA, MD- Blackstreet Capital Management says Blackstreet Capital Partners II raised $91 million in equity capital in 2008, the first close of a fund expected to grow to $125 million.

Blackstreet Capital Partners II follows on the success of Blackstreet’s first fund, Blackstreet Capital Partners, LP, which purchased or invested in 14 companies representing more than $1.2 billion in annual revenue, and returned an average of 5.5 times invested capital on realized transactions.

Blackstreet Capital Management specializes in rescuing and turning around distressed small and midsized companies with unique assets and unrealized market potential.

“We invest the human and financial capital necessary to position distressed companies to operate successfully and profitably in the long-term,” said Murry N. Gunty, founder and managing director.

“Over the past five years, our investments have saved more than 6,000 jobs for employees and local communities, while providing significant returns for our investors.”

Blackstreet seeks investments in a range of industries, including manufacturing/distribution, restaurants, specialty retail, business services and health care.

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