Pamlico Capital

Founded in 1988 as First Union Capital Partners, the firm originally served as the private equity investment arm of First Union Corporation. Following the merger of First Union and Wachovia in 2001, it was renamed Wachovia Capital Partners. During the 2008 financial crisis, the firm's parent was acquired by Wells Fargo, eventually leading to the firm's successful spinout as an independent entity renamed Pamlico Capital in March 2010.

The firm focuses on middle-market companies, specifically targeting sectors such as business services, technology services, telecommunications, and healthcare. Since its inception, Pamlico Capital has invested approximately $3.8 billion in over 200 companies. The firm has successfully raised several independent funds since its spinout, including Pamlico Capital V, which closed in 2020 with $1.25 billion in commitments.

Pamlico Capital typically seeks equity investments ranging from $25 million to $125 million. Their target companies generally have total enterprise values between $50 million and $350 million. The firm acts as both a lead investor and an equity co-investor alongside other financial sponsors.