Pamlico Capital

Founded in 1988, Pamlico Capital originally operated as First Union Capital Partners, the private equity arm of First Union Corporation. Following the merger of First Union and Wachovia in 2001, the firm was renamed Wachovia Capital Partners. During the 2008 financial crisis, its parent company was acquired by Wells Fargo, leading the firm to eventually complete an independent spinout from Wells Fargo in March 2010.

The firm focuses on middle-market companies, providing growth equity and buyout capital. Since its inception, Pamlico has invested approximately $3.8 billion in over 200 companies. Its fundraising efforts post-spinout include Fund III ($650 million), Fund IV ($910 million), and Fund V, which closed in 2020 after significantly exceeding its $1.25 billion target.

Headquartered in Charlotte, North Carolina, the firm targets investments in specific high-growth sectors including business services, technology, and healthcare. It typically seeks equity investments between $25 million and $125 million in companies with enterprise values ranging from $50 million to $350 million.