Falfurrias Management Partners, a Charlotte, NC-based lower middle-market private equity firm, closed Falfurrias Growth Partners I (FGP), at $400m.
FGP received support from both new and existing investors comprising leading global pension plans, asset managers, insurance companies, endowments, foundations, family offices, and high net worth individuals. The General Partner of the fund committed approximately $45m in capital alongside limited partners.
Founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America; Marc Oken, former CFO of Bank of America; and Managing Partner Ed McMahan, FGP invests in growth-oriented, lower middle-market businesses in the software and business services sectors. Within these sectors, the fund targets specific areas that include fintech, technology services, info services, marketing services, data & analytics, and vertical software, among others. Investments will range between $20 million and $50 million.
FGP is the firm’s first dedicated growth buyout fund. In addition to FGP, FMP manages its larger $850 million fund, Falfurrias Capital Partners V, and has raised over $2.2 billion of capital since inception.
FMP has expanded its team to support this new effort. Cam Dyer and Michael Clifton joined the firm as Partners. The firm also added Amy Brandt as a Partner and FGP investment committee member. Rounding out the senior team leading FGP, Hugh McColl IV is a Vice President.
FinSMEs
12/12/2023