FNB launches fund for mezzanine financing in middle market companies

By Marisa Wong

Madison, Wis., Sept. 5 - FNB Corp. announced it launched FNB Capital Partners, LP, a fund specializing in mezzanine financing and private equity investments in middle market companies.

FNB Capital is a Small Business Investment Company (SBIC) licensed by the U.S. Small Business Administration.

Its principals include Stephen J. Gurgovits Jr., Matthew L.T. Harnett and Tyson S. Smith, former employees of FNB Capital Corp., LLC, a wholly owned merchant banking subsidiary of FNB.

The SBIC fund will target investment opportunities of up to $10 million across a range of industries. The fund will invest primarily in companies within the eastern United States.

In addition to anchor investor FNB, the fund's investors include five regional banks, a pension fund and several high net worth individuals.

FNB is a financial services company based in Hermitage, Pa.

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