Pamlico Capital: New Name, Smaller Fund
Wachovia Capital Partners declared its independence from Wells Fargo yesterday, spinning off into a new firm called Pamlico Capital. I spent some time on the phone with managing partner Scott Perper, and here are some highlights in notes form: * The spin-off is unrelated to the proposed Volcker Rule, whereby banks would be required to divest in-house private equity groups. Perper says discussions over what to do with WCP began shortly after the Wells Fargo acquisition in late 2008. He also said that there were never discussions about merging WCP with Norwest Equity Partners, which receives all of its fund capital from Wells Fargo.
25 March 2010•2 mins read
