First Capital Investment Corporation, a publicly registered non-traded business development company, disclosed that its acting president, John Fields, has resigned from the company. According to a filing with the Securities and Exchange Commission, his departure is not related to any disagreement with the company’s operations, policies or practices.
In September 2017, Fields was tapped to replace president and chief executive officer Pat Clemens following his resignation from the company.
Fields also served as chief operations officer and president of strategy for First Capital Real Estate Investments, a real estate investment company and sponsor of First Capital Investment Corporation. It is unclear at this time if he has resigned from those roles as well. The firm has not responded to our inquiry at press time.
First Capital Investment Corporation is a $500 million offering that seeks to invests in private U.S. small- and middle-market companies. The BDC invested approximately $6.6 million in seven portfolio companies and raised approximately $6.1 million in investor equity, as of September 2017.