PITTSBURGH, Sept. 5, 2013 /PRNewswire/ -- F.N.B. Capital Partners, L.P. ("FNBCP") today announced the launch of its Small Business Investment Company ("SBIC") fund. The Fund closed in May 2013 and received its license from the U.S. Small Business Administration ("SBA") to operate FNBCP as an SBIC on August 21, 2013, making it eligible for additional leverage financing from the SBA. Along with its initial capital raise and SBA leverage, FNBCP has deployable capital of $175 million. FNBCP's investors include several high net worth individuals, a pension fund and six regional banks, including anchor investor F.N.B. Corporation (NYSE : FNB). FNBCP, which exceeded its initial target of $150 million, will be managed by Tecum Capital Management ("Tecum"). As the only active SBIC based in Pittsburgh, Pennsylvania, FNBCP will focus on mezzanine debt and private equity investments in lower middle market companies. FNBCP's goal is to add value to the regional business and entrepreneurial community by growing small businesses into larger enterprises and supporting job growth. Accordingly, FNBCP plans to provide up to $10 million in capital for change of control transactions, recapitalizations, acquisitions, refinancing and growth initiatives. FNBCP and Tecum founders Stephen J. Gurgovits, Jr., Matthew L.T. Harnett, and Tyson S. Smith formerly managed F.N.B. Capital Corporation, LLC, a wholly-owned merchant banking subsidiary of F.N.B. Corporation. Collectively, the FNBCP team has 35 years of experience making and managing private equity and mezzanine debt investments, including the placement of over $250 million in more than 40 companies. The SBIC program was created in 1958 and is administered by the SBA. SBICs are financed by private investors, and are eligible to obtain low cost leverage on their private capital from the SBA. SBICs are eligible for leverage if they adhere to specific SBIC investment and regulatory guidelines. SBICs invest in small businesses, defined as companies with an average net income of less than $6 million over the prior two years and a net worth of less than $18 million, though certain exceptions can be made based on the number of employees at the small business. About F.N.B. Capital Partners, L.P. F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the SBA as an SBIC. FNBCP, headquartered in Pittsburgh, PA, invests $3 million to $10 million per transaction. FNBCP specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital. For more information, please visit www.fnbcp.com. About Tecum Capital Management Tecum Capital Management, Inc. is a private investment firm and management company for F.N.B. Capital Partners, L.P. Tecum, based in Pittsburgh, PA, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises. The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs. Media contact: Paulette Duderstadt, 1-412-780-6239, firstname.lastname@example.org; or Stephen Gurgovits, 724-602-4401, email@example.com SOURCE F.N.B. Capital Partners, L.P.