White Oak takes minority stake in FCO

White Oak Equity Partners has acquired a minority stake in FCO Advisors LP, a private municipal credit focused investment fund. No financial terms were disclosed.


NEW YORK–(BUSINESS WIRE)–FCO Advisors LP (“FCO”), a leader in alternative municipal strategies with over $1 billion in assets under management, and White Oak Equity Partners (“White Oak”), a private equity firm that purchases non-controlling GP interests in alternative asset managers, today announced that White Oak has acquired a minority interest in FCO. Terms of the transaction were not disclosed.

The transaction and new partnership offers FCO significant resources and flexibility for growth. The collaboration between FCO and White Oak will position FCO for expansion into projects complementary to those FCO pursues, with an initial focus on positive-impact debt investments in U.S. public sector infrastructure.

Hector Negroni, Chief Executive Officer and Chief Investment Officer of FCO, will continue to lead FCO’s financial strategy and will retain control over the firm’s day-to-day operations and investments. Mr. Negroni has been involved in investing activities in the municipal market for 30 years and launched FCO in 2013 to offer the global institutional investing community scalable exposure to U.S. public finance opportunities. White Oak will play a critical role in helping FCO pursue its vision, bringing to bear decades of experience strategically advising and building alternative asset management firms.

“We are thrilled to partner with White Oak,” said Hector Negroni. “Their extensive experience in the alternative asset management business and collaborative mindset, coupled with their appreciation of FCO’s unique approach and long-term potential, will be pivotal in helping us execute our near- and long-term growth strategy.”

“As a firm founded on the principle of partnering with great investment teams and great people, we could not be happier about our new relationship with FCO,” commented Bruce Wilson, Chief Executive Officer of White Oak.

White Oak Partner, Robert Stockton, added, “FCO’s growth strategy is a natural extension of their skill set and market position, and we look forward to helping them execute their new infrastructure initiative and realize their long-term vision.”

About FCO Advisors
FCO Advisors LP is a Delaware limited partnership launched on May 1, 2013 to operate as a private municipal credit focused investment fund. The Fund’s investment objective is to deliver consistent total returns investing across a range of opportunities in the broad, fragmented municipal universe while minimizing correlations and drawdown risks. Investment themes cut across the entire spectrum of the municipal market, from liquid relative value to idiosyncratic credit to highly structured and distressed investments. To execute on this strategy, FCO capitalizes on the investing team’s extensive municipal market experience, advanced product knowledge and substantial structuring capabilities. For more information, please visit: https://fundamentaladvisorslp.com/

About White Oak Equity Partners
White Oak Equity Partners is a private equity firm that partners with established and highly skilled investment teams by purchasing non-controlling, minority GP interests in alternative asset management firms with less than $2B in assets under management. White Oak looks to play a strategic role in helping these firms build institutional businesses with global distribution capabilities to achieve significant asset growth. In 2016, White Oak formed a strategic relationship with Park Hill Group, a global advisory and placement agent, to evaluate new investment opportunities and provide marketing guidance to the firms in which White Oak invests. For more information, please visit: http://whiteoakequity.com/