FNB Corporation, a New York Stock Exchange listed company, announced the launch of FNB Capital Partners LP. FNB Capital Partners LP is a small business investment company that is duly licensed by the US Small Business Administration whose focus is to engage in private equity investment and mezzanine financing for small to medium enterprises.
Amongst the firm's principals include Stephen J. Gurgovits, Matthew LT Harnett and Tyson Smith. This SBIC Fund by the partnership would focus on investment opportunities near USD10 million in a large number of industries. The goal is to stimulate growth through the investments done and this would result in job creation in the areas where the enterprises are located. The main location for the industries would be the eastern part of the United States.
The SBIC Fund invests between USD3 million and USD10 million oer transaction. The instruments utilized for the benefit of the fund includes mezzanine debt, private equity, subordinated notes and other types of financial capital instruments.
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