First Capital Partners said Monday that it has raised $91 million with its second fund. FCP Fund II LP will make make subordinated debt and PE investments in companies with $10 million to $100 million in revenue. Senior managers of First Capital Partners have acquired majority ownership of the firm. Omaha, Neb.-based First Capital is now managed independently from First National of Nebraska.
First Capital Partners, LLC, based in Omaha, Nebraska, announced today that it has closed on a $91 million investment fund, FCP Fund II, L.P. David McLeese, managing partner, said the fund will be used to make subordinated (“mezzanine”) debt and private equity investments in privately-owned companies with revenues between $10 million and $100 million.
First Capital Partners invests in companies that require long term funding beyond what can typically be obtained from a commercial bank. Common uses for this type of financing are to support a major growth initiative, a management buyout of existing owners or a corporate acquisition. The firm diversifies its investments across industries, with most of its investments focused on manufacturing, business services or distribution companies.
“With the challenges facing our economy, there are many successful companies that are experiencing difficulties obtaining long term capital for growth or ownership transition, and we see ourselves as helping to fill that void,” said McLeese.
In addition to McLeese, the other senior managers of First Capital Partners are Wesley Hampp, Young Park and Andrew Kemp. McLeese said the team has more than 80 years of combined business and investment experience.
First Capital Partners was founded in 2006 as an investment subsidiary of First National of Nebraska, Inc., which is the largest privately-owned banking company in the United States. Its flagship bank, First National Bank of Omaha, committed $30 million to FCP Fund II, L.P., and the balance was committed by other investors, a majority of which are based in Nebraska.
Along with closing its new fund, McLeese said the senior managers of First Capital Partners acquired majority ownership of the firm, which is now managed independently from First National of Nebraska, Inc. and First National Bank of Omaha.
First Capital Partners was recently awarded a license by the U.S. Small Business Administration to operate FCP Fund II, L.P. as an unleveraged Small Business Investment Company (SBIC). This program was authorized by Congress over 50 years ago to support investments in small businesses in the U.S. First Capital Partners is the only fund in the State of Nebraska to hold an SBIC license from the SBA.
To learn more about First Capital Partners, please visit the firm’s website at www.firstcapitalpartners.com.
About First Capital Partners, LLC:
Founded in 2006, First Capital Partners, LLC is a private investment firm based in Omaha, Nebraska that provides subordinated (mezzanine) debt and equity to lower middle-market companies with annual revenues between $10 million and $100 million. The senior managers of the firm are David McLeese, Wesley Hampp, Young Park and Andrew Kemp. The team has more than 80 years of combined business and investment experience. See www.firstcapitalpartners.com for more information on the firm.
About First National of Nebraska, Inc.:
First National of Nebraska has grown into the largest privately owned banking company in the United States. First National and its affiliates have $17 billion in managed assets and nearly 5,000 employee associates. Today, its primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.