FALFURRIAS MANAGEMENT PARTNERS LP

Thesis

Falfurrias Management Partners LP is a private equity firm founded in 2006, headquartered in Charlotte, North Carolina. The firm specializes in lower to middle-market buyouts and growth investments, employing a distinctive "Industry First" approach that prioritizes in-depth market research and thesis development before capital deployment. Their strategy involves identifying markets with robust growth potential driven by regulatory, demographic, and secular shifts, and partnering with management teams to build sustainable businesses. Key focus areas include software & business services, light manufacturing, government services, food manufacturing, and industrial technology, with a general preference for control positions in growth-oriented companies. While some sources suggest a broader stage focus, Falfurrias primarily targets established, growth-stage businesses. Their geographic scope is mainly North America, with a strong emphasis on the United States. The firm manages capital through multiple funds, having raised approximately $3.6 billion across seven funds as of March 2025. Their latest flagship fund, Falfurrias Capital Partners VI (FCP VI), closed at $1.35 billion in March 2025, and Falfurrias Growth Partners I (FGP I) closed at $400 million in December 2023. Total AUM stands at $3.2 billion. For their flagship lower middle market fund, check sizes range from $50 million to $150 million, targeting companies with $5–$60 million of EBITDA. For Falfurrias Growth Partners, check sizes range from $20 million to $50 million, targeting companies with $1-$8 million of EBITDA or $4-$20 million of ARR. The firm operates with a long-term investment horizon, investing its own capital alongside limited partners and leveraging experienced management teams and advisors.

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