Falfurrias Capital Partners raises USD850m for oversubscribed Fund V

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Falfurrias Capital Partners (FCP) has closed its latest, oversubscribed lower middle-market private equity fund, Falfurrias Capital Partners V, at USD850 million in investor commitments.

The firm’s prior flagship fund, Falfurrias Capital Partners IV, totalled USD500 million and was raised in 2019.  In total, FCP has approximately USD1.9 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 US; 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," says Marc Oken, chairman of FCP. “We are energised 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," says Ed McMahan, managing partner at FCP. "With this funding, we're well positioned to provide the support these companies need to grow and scale."

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