Blue Wolf Capital Partners LLC (“Blue Wolf”), a Delaware limited liability company, is a New 
York-based private equity firm that specializes in private equity investments primarily in lower 
middle  market  companies  that  have  significant  operations  in  North  America.  Blue  Wolf 
commenced operations in 2005. The controlling member of Blue Wolf is Adam Blumenthal. 
Blue Wolf provides  discretionary investment  advisory services  to  multiple private equity funds 
(collectively,  the  “Funds”)  that  invest  in  buyouts,  recapitalizations  and  growth  capital 
opportunities in middle market companies. The firm focuses on making control investments in the 
healthcare and industrial sectors and works to generate returns through operational and strategic 
experience.  Blue  Wolf  seeks  to  invest  in  businesses  that  have  a  solid  underlying  competitive 
position, and where Blue Wolf has identified one of more catalysts for value creation that include 
organizational transformation, financial or operational distress, dysfunctional, complex union or 
human capital issues, the presence of significant government involvement, and/or the opportunity 
to use economic, social or governance as a lens for value creation. The Funds seek to invest in 
portfolio companies with enterprise values typically between $100 million and $500 million. 
Additionally, Blue Wolf has organized (and may in the future organize) certain special purpose 
pooled  investment  vehicles  that  co-invest  alongside  the  Funds  in  certain  of  the  same  portfolio 
companies  in  which  the  Funds  invest  (such  co-investment  vehicles,  “Co-Invest  Funds”).  All 
references  to  “Funds”  herein  are  intended  to  encompass  the  Co-Invest  Funds  except  where 
indicated  otherwise.  The  Co-Invest  Funds  are  formed  from  time  to  time  for  the  purpose  of 
permitting (i) certain pre-existing investors in the Funds to increase, on a discretionary basis, the 
amount of their exposure to certain Fund portfolio companies via their respective investments in 
such co-investment vehicles and/or (ii) one or more third parties that are not investors in the Funds 
to  invest  alongside  the  Funds  in  certain  portfolio  companies  in  which  the  Funds  are  investing. 
Generally, Co-Invest Funds invest on a side-by-side basis with the applicable Fund in one or more 
portfolio  companies  generally  on  the  same  terms,  except  for  fees  and  expenses  as  discussed  in 
Item 5 below. Co-Invest Funds generally have the pro rata right to participate in the future funding 
of such portfolio companies, but do not have the obligation to do so. Consequently, the relative 
ownership percentages of the Co-Invest Fund and the applicable Fund in respect of such portfolio 
companies may change over time. 
Blue  Wolf  expects  that  the  Funds  will  have  the  ability  to  pursue  larger  transactions  (often 
significantly larger), where appropriate, generally by offering co-investment opportunities through 
the  Co-Invest  Funds.  Generally,  subject  to  the  terms  of  the  Governing  Documents  (as  defined 
below) of a Co-Invest Fund and its related Fund, a Co-Invest Fund is contractually required, as a 
condition of its investment, to exit its investment in any particular investment opportunity at the 
same price, time and on the same terms as its related Fund. 
Further,  in  circumstances  where  an  entire  investment  opportunity  could  be  made  by  a  primary 
Fund, Blue Wolf may still allocate a portion of such investment opportunity to one or more Co- 
Invest  Funds  in  accordance  with  such  primary  Fund’s  confidential  private  placement 
memorandum,  limited  partnership  agreement  and  other  governing  documents  (together, 
“Governing Documents”) and Blue Wolf’s internal allocation policies and procedures if Blue Wolf 
believes  in  its  good  faith  judgment  and  sole  discretion  that:  (i)  allocating  the  full  investment 
opportunity solely to the primary Fund would unreasonably limit such Fund’s diversification (or 
otherwise be inappropriate for the Fund) or (ii) a particular co-investor, investing via a Co-Invest 
Fund, would add value to the primary Fund or the target portfolio company. 
Investors that participate in
                                        
                                        
                                             a Co-Invest Fund may be in a position to obtain additional information 
regarding the applicable portfolio company that may not generally be available to investors in the 
applicable Fund that invests side-by-side with the Co-Invest Fund. 
Generally,  a  related  person  of  Blue  Wolf  serves  as  the  general  partner  of  each  Fund  (each,  a 
“General Partner”), and Blue Wolf serves as the investment adviser to each Fund. References to 
Blue Wolf in this Brochure include, as the context requires, any affiliates: (i) through which Blue 
Wolf provides investment advisory services to the Funds or (ii) that serve as General Partners of 
the Funds. 
Blue Wolf tailors its advisory services to the specific investment objectives and restrictions of each 
Fund. Investors and prospective investors in the Funds should refer to the Governing Documents 
of  each  Fund  for  more  complete  information  on  the  investment  objectives  and  investment 
restrictions  with  respect  to  a  particular  Fund.  There  is  no  assurance  that  any  of  the  Funds’ 
investment  objectives  will  be  achieved.  For  the  avoidance  of  doubt,  the  latest  applicable  Fund 
limited partnership agreement, as amended or restated from time to time, is the primary Governing 
Document if there are any conflicts with other Governing Documents. 
The Funds are offered exclusively to “accredited investors” (as defined in Regulation D under the 
Securities Act of 1933, as amended) and/or “qualified purchasers” pursuant to Section 3(c)(1) and 
usually Section 3(c)(7) of the Investment Company Act of 1940, as amended (the “Company Act”), 
and  are  therefore  not  required  to  register  as  investment  companies  under  the  Company  Act  in 
reliance upon  certain exemptions available to private investment funds whose securities are not 
publicly offered. 
In accordance with common industry practice, one or more of the General Partners has, and may 
in the future, enter into “side letters” or similar agreements with certain investors pursuant to which 
the  General  Partner  grants  the  investor  specific  rights,  benefits,  or  privileges  that  are  not  made 
available to investors generally. Certain terms may be available only to larger or strategic investors. 
Side letter rights are likely to confer benefits on the relevant limited partner at the expense of the 
relevant  Fund or of limited partners as a whole, including in the event that a side letter confers 
additional reporting, information rights and/or transfer rights, the costs and expenses of which are 
expected to be borne by the relevant Fund. Except in the circumstances and on the timing required 
by Governing  Documents  and/or applicable law,  other investors will not  receive copies of side 
letters or related provisions, and as a general matter, the other investors have no recourse against 
a Fund, Blue Wolf, the relevant General Partner or any of their affiliates in the event that certain 
investors  have  received  additional  and/or  different  rights  and/or  terms  as  a  result  of  such  side 
letters. A Fund investor should contact us for additional details. Terms addressed in side letters 
may include, but are not limited to: 
•  “Most favored nation” status 
•  Seat or observer rights on investor advisory board 
•  Holding investments through a blocker or similar vehicle 
•  Format of certain notices 
•  More frequent or detailed reporting 
•  Additional representations and warranties by a Fund or Blue Wolf 
•  Co-investment opportunities 
•  Confidentiality 
•  Ability of investor to make required public disclosures about a Fund 
•  Restrictions on making in-kind distributions 
•  Notice of certain material events 
•  Limitations on a Fund’s use of power of attorney 
•  Prohibited investments 
•  Notice of successor fund formation 
•  Consent to transfer investor’s interest 
Blue Wolf does not participate in any wrap fee programs. 
Blue  Wolf  manages  all  client  assets  on  a  discretionary  basis  in  accordance  with  the  terms  and 
conditions of each Fund’s Governing Documents. As of December 31, 2023, the amount of assets 
Blue Wolf manages on a discretionary basis is $2,808,874,536.