[Federal Register Volume 60, Number 129 (Thursday, July 6, 1995)]
[Notices]
[Page 35252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-16494]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
[Application No. 99000165]
Sixty Wall Street SBIC Fund, L.P.; Notice of Filing of
Application for a License To Operate as a Small Business Investment
Company
Notice is hereby given of the filing of an application with the
Small Business Administration (SBA) pursuant to Section 107.102 of the
Regulations governing small business investment companies (13 CPR
107.102 (1993)) by Sixty Wall Street Fund, L.P. 60 Wall Street, New
York, New York 10260 for a license to operate as a small business
investment company (SBIC) under the Small Business Investment Act of
1958, as amended, (15 U.S.C. et seq.), and the Rules and Regulations
promulgated thereunder. Sixty Wall Street SBIC Fund, L.P. is a limited
partnership formed under Delaware law. It areas of operation are
intended to be diversified among numerous regions and industries
throughout the United States.
The general partner of Sixty Wall Street SBIC Corporation, a
Delaware Corporation (the SBIC GP) which is a special purpose, wholly-
owned subsidiary of JP Morgan & Co., Incorporated (JP Morgan & Co.) The
SBIC GP will not engage in any business other than serving as general
partner of the applicant. The applicant will co-invest and operate side
by side with JP Morgan Investment Corporation, an existing SBIC that is
also wholly-owned indirectly by JP Morgan & Co., Incorporated. Both JP
Morgan Investment Corporation and the applicant operate, and will
operate, without SBA leverage. The following limited partner will own
10 percent or more of the proposed SBIC:
------------------------------------------------------------------------
Percentage of
Name ownership
------------------------------------------------------------------------
JP Morgan Capital Corporation, 60 Wall Street, 99% (initially)
New York, New York 10260.
------------------------------------------------------------------------
The applicant intends that there will be ultimately no limited
partner that will own as much as 10% of the equity interest of the
applicant at any time other than JP Morgan Capital Corporation, which
is the initial limited partner. Under the terms of this application,
qualified employees of JP Morgan who have elected to participate in the
applicant will make capital contributions at the beginning of each
year, and accordingly, will be substituted for JP Capital Corporation
as they themselves become limited partners of the applicant.
The applicant will begin operations with a capitalization of $2.5
million of cash, which is expected to increase to the $25 to $50
million range in the next five years. The applicant intends to invest
among numerous regions, industries and be diversified throughout the
United States of America. There are no rigid guidelines as to the
industries or geographical regions in which the applicant will invest
(other than those specified by the SBIC Act), and the applicant will
consider investment opportunities at all stages of a small business
concern's life (including seed, start-up, development, expansion and
later-stage). Although no particular industry or sector is excluded
from consideration (except as required by the SBIC Act), it is
currently anticipated that special emphasis will be given to what are
believed to be high quality investment opportunities in leading
technologies, health, care, and consumer and retailing sectors.
Matters involved in SBA's consideration of the application include
the general business reputation and character of the proposed owners
and management, and the probability of successful operations of the new
company under their management, including profitability and financial
soundness in accordance with the Act and Regulations.
Notice his hereby given that any person may, not later than 30 days
from the date of publication of this Notice, submit written comments on
the proposed SBIC to the Associate Administrator for Investment, Small
Business Administration, 409 Third Street, SW., Washington, D.C. 20416.
A copy of this Notice will be published in a newspaper of general
circulation in New York, New York.
(Catalog of Federal Domestic Assistance Programs No. 59.011, Small
Business Investment Companies).
Dated: June 28, 1995.
Robert D. Stillman,
Associate Administrator for Investment.
[FR Doc. 95-16494 Filed 7-5-95; 8:45 am]
BILLING CODE 8025-01-M
