Full Circle Capital Announces Formation of FC Capital Investment Partners
June 23 2014 - 8:19AM
Business Wire
Full Circle Capital Corporation (NASDAQ:FULL) (“Full Circle
Capital”) today announced the formation of FC Capital Investment
Partners (“FCIP”).
FCIP is a multiple series private fund for which Full Circle
Capital will serve as the managing member and investment adviser.
The investment objectives and investment terms of each particular
series may vary. Each particular series will primarily be funded
through capital commitments by third party accredited or
institutional investors. Full Circle Capital expects to receive
certain fees or other distributions from FCIP in connection with
the services it provides to each series FCIP may issue. Full Circle
Capital intends to co-invest in certain transactions with FCIP
where Full Circle Capital determines that the aggregate available
investment opportunity exceeds what it believes would be
appropriate for Full Circle Capital to acquire directly.
Additionally, FCIP may invest in opportunities that fall outside of
the investment mandate of Full Circle Capital.
“We believe the formation of FCIP will provide Full Circle
Capital with several benefits. Most importantly, we anticipate that
FCIP will provide capital resources that will enable Full Circle
Capital to lead and control larger transactions in conjunction with
FCIP, thereby expanding our addressable market and enhancing Full
Circle Capital’s competitive position,” said Gregg J. Felton,
President and Co-Chief Executive Officer. “We believe that the
investment management fees earned through these vehicles will also
provide Full Circle Capital with an additional stable source of
incremental revenue and income.”
Full Circle Capital closed its first series of FCIP on June 17,
2014, raising approximately $5.6 million of capital. These funds
were co-invested with Full Circle Capital in an asset in which the
investment opportunity exceeded Full Circle Capital’s ability to
invest relative to its current balance sheet concentration
limits.
About Full Circle Capital
Full Circle Capital Corporation (NASDAQ: FULL) is a Rye Brook,
New York based closed-end investment company that has elected to be
treated as a business development company under the Investment
Company Act of 1940. Full Circle Capital lends to and invests in
senior secured loans and, to a lesser extent, mezzanine loans and
equity securities issued by smaller and lower middle-market
companies that operate in a diverse range of industries. Full
Circle Capital’s investment objective is to generate both current
income and capital appreciation through debt and equity
investments. For additional information visit the company’s
website, www.fccapital.com.
Forward-Looking Statements
This press release contains forward-looking statements which
relate to future events or Full Circle Capital's future performance
or financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "plans," "anticipates," "expects," "estimates" and
similar expressions) should also be considered to be
forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in Full Circle Capital's filings with the Securities and
Exchange Commission. Full Circle Capital undertakes no duty to
update any forward-looking statements made herein.
Full Circle Capital CorporationJohn Stuart, Co-Chief Executive
OfficerGregg J. Felton, Co-Chief Executive
Officer914-220-6300info@fccapital.comorInvestor
Relations:LHAStephanie PrinceJody
Burfening212-838-3777sprince@lhai.com
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