CHARLOTTE – Falfurrias Capital Partners closed its latest lower middle-market private equity fund with $850 million in investor commitments, the firm announced in a statement this week.

The fund, Falfurrias Capital Partners V, was oversubscribed, according to the company.  The prior fund, Falfurrias Capital Partners IV, totaled $500 million and was raised in 2019.

The Charlotte-based private equity company, abbreviated FCP, was founded by former Bank of America CEO Hugh McColl, Jr., former Bank of America CFO Marc Oken, and Managing Partner Ed McMahan.

The fund will seek to invest in growth-oriented, lower middle-market businesses, the firm said in a statement.

The firm invested in Charlotte-based educational training company Training The Street earlier this year.


Charlotte’s Falfurrias Capital Partners invests in Training The Street


“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 in a statement. “With this funding, we’re well positioned to provide the support these companies need to grow and scale.”

The firm noted that it now controls some $1.9 billion in capital under management.