Falfurrias Capital Partners has closed its 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.
The Charlotte-based private equity firm, founded by former Bank of America CEO Hugh McColl and former Bank of America CFO Marc Oken, will invest the proceeds of the fund in growth-oriented, middle-market businesses.
FCP’s investments include H Code, a multicultural digital media agency in the U.S.; Chargeback Gurus, a company providing chargeback prevention and recovery services for eCommerce and card not present transactions; Training the Street, a provider of educational resources for financial professionals; Carolina Foods, a 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 Oken. “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.”