Falfurrias Management Partners LP has closed its oversubscribed lower middle-market private equity fund, Falfurrias Growth Partners I, at $400 million in investor commitments.
FGP will invest in lower middle-market businesses in the software and business services sectors. Within these sectors, the fund targets areas including fintech, technology services, information services, marketing services, data and analytics and vertical software, among others. Investments will range between $20 million and $50 million. FGP is the firm’s first growth buyout fund.
“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,” comments Ed McMahan, managing partner of FMP.