Meet Fidelity Equity Partners. They're not new. They just look like it.

Fidelity Equity Partners is the newly renamed private equity affiliate of Fidelity Investments. The name's not all that's new. So is the management team, which is now headed by Rob Ketterson, who is also the head of Fidelity's venture capital arm called Fidelity Ventures.

Fidelity Equity Partners is raising $500 million for its fund.

Fidelity Investments has reorganized its little-known private equity affiliate by assembling a new management team, raising a $500 million fund and renaming the outfit Fidelity Equity Partners.

The buyout shop is based in Boston and is run by managing partner Rob Ketterson, who also oversees Fidelity's venture capital arm, Fidelity Ventures. The new private equity operation, launched after the new year, took over the existing portfolio of Fidelity's predecessor buyout unit, Fidelity Capital Investors, which managed a $200 million investment fund.

(Continue reading this story on Boston Business Journal)

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