Falfurrias Management Partners wraps up initial growth fund at $400m

• The fund’s’ LPs include global pension plans, asset managers, insurance companies, endowments, foundations, family offices, and high-net worth individuals
• Falfurrias Growth Partners was launched in January 2023
• Falfurrias Management Partners was 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

Falfurrias Management Partners has closed its inaugural growth fund at $400 million.

Falfurrias Growth Partners I will invest in lower middle market companies in the software and business services sectors.

The fund’s’ limited partners include global pension plans, asset managers, insurance companies, endowments, foundations, family offices, and high-net worth individuals.

“We are delighted to have recruited world class investors and operators to join our team to help launch and lead FGP,” said Ed McMahan, managing partner of FMP in a statement. “The fund will allow us to pursue attractive investment opportunities that are identified through our Industry First process but where we previously did not have the investment expertise or fund strategy to pursue,”

Falfurrias Growth Partners was launched in January 2023 and is managed by Falfurrias Management Partners, a Charlotte-based private equity firm 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 McMahan.