Private equity firm Blue Equity, LLC is broadening its scope with the acquisition of Management Group International, a entertainment management company that represents clients like Janet Jackson and Nick Carter. Former owner of MGI, Kenneth Crear, will continue as president.

Crear, who most recently produced the E! Entertainment reality show, "House of Carters," also plans to cultivate television and film projects. A deal is in place with Will Smith's production agency, Overbook, for an upcoming television show titled "Uncle Rudy."

Lousiville-based Blue Equity’s portfolio includes interests in media, publishing, real estate, financial services and sports management. The company's sports clients include tennis pro Andy Roddick, NFL running back Reggie Bush and the U.S. Open.

The Blue Equity entertainment office will be located in Beverly Hills, Calif.