Firm History

Farragut’s history dates back to 1993, when Phil McNeill and Cabell Williams first partnered at Allied Capital Corporation. At the time, Allied was one of the longest-running licensed Small Business Investment Companies in the country and was a leading source of mezzanine capital to small and mid-sized US businesses. In 1998, Phil and Cabell were named co-heads of Allied’s Private Finance Group, and together they tripled the size of its portfolio to $1.7 billion in assets over the following four years. After leaving Allied in 2003, Phil founded Farragut’s predecessor firm, SPP Mezzanine Partners, with Allied as the firm’s lead investor. Javier Aguirre joined SPP in 2007 to co-manage the firm.

The founding of Farragut in 2011 represents the continuation of a long and successful tradition of investing mezzanine and private equity capital in leading small and mid-sized US businesses. Farragut’s partners have a combined 55 years of dedicated lower middle market investing experience and have deployed a total of nearly $1 billion across over 90 companies, including Gibson Guitar, Au Bon Pain, Candlewood Hotels, Scitor Corporation, and SelectQuote.

The team’s latest fund is licensed by the US Small Business Administration to once again operate as an SBIC, helping to increase the flow of capital to a vital but underserved segment of the domestic economy. Our proven leadership and disciplined investment approach has consistently yielded outstanding results for our investors and our portfolio companies alike.