Falfurrias racks up $850m for fifth fund

Falfurrias Capital Partners has closed its fifth lower middle-market private equity fund at $850 million.

Falfurrias Capital Partners has closed its fifth lower middle-market private equity fund at $850 million. In 2019, the firm raised $500 million for its previous fund. According to the Charlotte, North Carolina-based private equity firm, it currently has about $1.9 billion under management.

PRESS RELEASE

CHARLOTTE, N.C., Sept. 7, 2021 /PRNewswire/ — Falfurrias Capital Partners (FCP) today announced it has closed its latest, oversubscribed lower middle-market private equity fund, Falfurrias Capital Partners V, at $850 million in investor commitments. The firm’s prior flagship fund, Falfurrias Capital Partners IV, totaled $500 million and was raised in 2019. In total, FCP has approximately $1.9 billion under management.

The Charlotte-based private equity firm, founded by former Bank of America CEO Hugh L. McColl Jr., former Bank of America CFO Marc Oken, and Managing Partner Ed McMahan, will invest the proceeds of the fund in growth-oriented, lower middle-market businesses, leveraging the firm’s deep network of industry relationships, operational expertise, and proprietary investment approach.

In the last year, FCP announced investments in H Code, the largest multicultural digital media agency in the U.S.; Chargeback Gurus, a global leader in providing chargeback prevention and recovery services for eCommerce and Card Not Present transactions; Training the Street, the world’s leading provider of educational resources for financial professionals; Carolina Foods, a leading manufacturer of sweet baked goods; Crosslake, a technology services provider that performs technical due diligence and value creation services for private equity firms; and Ballast Research, a business intelligence platform supporting reputation management initiatives for Fortune 500 customers.

“Over the past 15 years, we have patiently assembled the best platform in lower middle market private equity and, as a result, have attracted an enviable list of investors,” said Marc Oken, chairman of FCP. “We are energized by the support of both our long-term and new limited partners and are thrilled for our next evolution.”

“The success of our fundraising validates the strength of our team and our theme-based, Industry First investment strategy, which allows us to identify and partner with differentiated businesses in durable growth markets,” said Ed McMahan, managing partner at FCP. “With this funding, we’re well positioned to provide the support these companies need to grow and scale.”

About Falfurrias Capital Partners
Falfurrias Capital Partners is a Charlotte-based private equity investment 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 Ed McMahan. The firm is focused on acquiring or investing in a diverse portfolio of growth-oriented middle-market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners. For more information, visit www.falfurriascapital.com.