Pamlico Capital

Pamlico Capital

Type	Private company
Industry	Private equity
Predecessor	Wachovia Capital Partners
Founded	1988
Headquarters	Charlotte, North Carolina, United States
Products	Growth capital, Leveraged buyout
Total assets	$3.5 billion
Number of employees	20+
Parent	Wells Fargo (prior), Wachovia (prior), First Union (prior)
Website	www.pamlicocapital.com

Pamlico Capital, formerly Wachovia Capital Partners and previously First Union Capital Partners, is an independent private equity firm focused on growth capital and leveraged buyout investments in middle-market companies in the business services, technology services, telecommunications and healthcare industries.

The firm, which is based in Charlotte, North Carolina, was founded in 1988 as the private equity investment arm of First Union Corporation. The firm has invested approximately $3.8 billion in more than 200 companies since inception across two funds.

The firm is named for the Pamlico Sound, which is located in North Carolina.

Investments

Among the firm's notable investments are Integrated Broadband Services, Three Eagles Communications^[1] and Heartland Publications,^[2] Bell Sports Inc., House of Blues, Jostens, Martin Marietta Materials, Metaldyne, Hosting.com, Ruth's Chris Steak House, Kinder Morgan, CapitalSource, Grupo Corpativo Ono, MetroPCS, Univision Communications, Triton PCS and YankeeNets.

Spinout from Wells Fargo

Wachovia Capital Partners logo

Originally founded as First Union Capital Partners in 1988, the firm served as the private equity investment arm of First Union, a commercial bank based in Charlotte. The firm changed its name to Wachovia Capital Partners following the merger of First Union and Wachovia in 2001, under Managing Partners Scott Perper, currently serving as Head of Pamlico Capital, and Ted Gardner.

In 2005, Frederick (Eric) W. Eubank and L. Watts Hamrick, among the original partners at conception of First Union Capital Partners, were named Managing Partners of the firm alongside Scott Perper, Chief Financial Officer Tracey M. Chaffin, and Partners: Art C. Roselle, Walker C. Simmons, and Scott R. Stevens; all of whom remain with the firm to date.^[3]

As a captive private equity investment arm, the firm focused on growth capital, leveraged buyout and mezzanine capital investments in middle-market companies across a range of industries. The firm invested both as the lead investor or an equity co-investor alongside other financial sponsors.

During the financial crisis of 2008, the firm's parent, Wachovia was acquired by Wells Fargo, which had an existing private equity platform, Norwest Equity Partners. In March 2010, the firm completed a spinout from Wells Fargo.^[4]

Pamlico Capital Fund III

In October 2013, Pamlico Capital closed Fund III at $650 million, well-exceeding the original goal of $500 million. Pamlico Capital III is the first fund raised after the spin-out from Wells Fargo in 2010. While previous Funds had a majority investment from the financial institution, Pamlico Capital III exclusively includes outside investors: AlpInvest Partners, Constitution Capital Partners, GE Pension Trust, HarbourVest Partners, affiliates of Hartford Investment Management Company (HIMCO), HOOPP Capital Partners (the private equity arm of the Healthcare of Ontario Pension Plan), John Hancock Financial Services, SCM Strategic Capital Management, AG and TIAA-CREF.^[5]

References

↑ Three Eagles Communications Announces Recapitalization. March 29, 2002
↑ "Heartland Publications Acquisitions". Heartland Publications. October 1, 2007.
↑ "Wachovia Capital Partners Buys Majority Interest in Cable, Broadband Services Firm". WRAL TechWire. Retrieved 22 June 2012.
↑ http://www.pionline.com/article/20100324/DAILYREG/100329939
↑ Adam O'Daniel (October 8, 2013). "Pamlico Capital raises $650M in first post-Wachovia fund". Charlotte Business Journal.

External links

Pamlico Capital (company website)
Wachovia Capital Partners (company website)

Private equity and venture capital investment firms

Investment strategy	Venture Growth Mezzanine Secondaries Leveraged buyout

History	History of private equity and venture capital Early history of private equity Private equity in the 1980s Private equity in the 1990s Private equity in the 2000s

Investors	Angel investor Corporate venture capital Commercial bank Crowdfunding Institutional investor Insurance company Investment bank Endowment Family office Fund of funds High-net-worth individual Merchant bank Pension fund Sovereign wealth fund

Private equity firms Venture capital firms Portfolio companies

Merchant banking private equity groups (current and prior)

ABN Amro AAC Capital Partners Bank of America Ridgemont Equity Partners Merrill Lynch Global Private Equity Barclays Capital Barclays Private Equity Barings Bank Baring Vostok Capital Partners GP Investments Bear Stearns Irving Place Capital (fka BSMB) CIBC World Markets Trimaran Capital Partners Citigroup Metalmark Capital Court Square Capital Partners CVC Capital Partners Credit Suisse DLJ Merchant Banking Avista Capital Partners Diamond Castle Holdings Deutsche Bank MidOcean Partners First Chicago Bank (defunct) Madison Dearborn Partners GTCR Goldman Sachs Goldman Sachs Capital Partners JPMorgan Chase CCMP Capital (fka JPMorgan Partners) One Equity Partners Lazard Lazard Alternative Investments Lehman Brothers (defunct) Trilantic Capital Partners Morgan Stanley Metalmark Capital Morgan Stanley Capital Partners Nomura Terra Firma Capital Partners UBS UBS Capital Affinity Equity Partners Capvis Lightyear Capital Wells Fargo Norwest Venture Partners Pamlico Capital William Blair & Company Chicago Growth Partners William Blair Capital Partners

List of investment banking private equity groups

Wells Fargo

History

Founders	Henry Wells William Fargo

Board of directors	John Stumpf (Chairman and CEO) Timothy Sloan Patricia Callahan Kevin Rhein Michael Loughlin James Strother Richard Levy David Carroll Michael Heid David Hoyt

Divisions	Wells Fargo Advisors Wells Fargo Bank Wells Fargo Financial Wells Fargo Home Mortgage Wells Fargo Insurance Services Wells Fargo Securities

Historical components	ABD Insurance & Financial Atlantic National Bank A. G. Edwards Bache & Co. Bank of Baltimore Bank of North America Bowles Hollowell Connor & Co. Century Bank CoreStates Financial Crocker National Bank Evergreen Investments First Commerce Bancshares First Interstate Bancorp First Security First Union Florida National Bank Garden State National Bank Georgia Railroad Bank Golden West Financial Halsey, Stuart & Co. National Bank of Alaska Norwest Prudential Securities Southeast Bank SouthTrust Wachovia Wachovia Securities

Former components	H.D. Vest Pamlico Capital Tillie the All-Time Teller

Buildings	One Wells Fargo Center Wells Fargo Center (Denver) Wells Fargo Center (Jacksonville) Wells Fargo Center (Los Angeles) Wells Fargo Center (Minneapolis) Wells Fargo Center (Portland, OR) Wells Fargo Center (Sacramento) Wells Fargo Center (Salt Lake City) Wells Fargo Center (Seattle) Wells Fargo Place Wells Fargo Plaza (El Paso) Wells Fargo Plaza (Houston) Wells Fargo Plaza (Phoenix) Wells Fargo Center (Philadelphia) Wells Fargo Tower (Birmingham) Wells Fargo Tower (Colorado Springs) Duke Energy Center

Category Commons Wikiversity

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