F.N.B. Capital Partners Closes $175 Million Private Equity Fund
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F.N.B. Capital Partners Closes $175 Million Private Equity Fund

fnb nfF.N.B. Capital Partners, L.P. (FNB) today announced the launch of its Small Business Investment Company fund.  The Fund closed in May 2013 and received its license from the US Small Business Administration to operate on August 21, 2013.

FNB will be managed by Tecum Capital Management. The founders of Tecum, Stephen Gurgovits, Jr., Matthew Harnett, and Tyson Smith formerly managed F.N.B. Capital Corporation, LLC, a wholly-owned merchant banking subsidiary of F.N.B. Corporation.

Along with its initial capital raise and SBA leverage, FNB has deployable capital of $175 million which exceeds its initial target of $150 million.  FNB’s investors include several high net worth individuals, a pension fund and six regional banks, including anchor investor F.N.B. Corporation.

FNB will focus on mezzanine debt and private equity investments in lower middle market companies.  FNB will invests $3 million to $10 million per transaction in the form of mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital. FNB is based in Pittsburgh (www.fnbcp.com).

Tecum Capital Management is a private investment firm and management company for F.N.B. Capital Partners, L.P.  The firm oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises.  The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs. Tecum Capital Management is based in Pittsburgh  (www.fnbcp.com).

© 2013 PEPD • Private Equity’s Leading News Magazine • 9-6-13

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